North East Small Finance Bank appoints New Independent Director Mr Shrimohan Yadav

New Delhi, India, 31st Jan 2024: North East Small Finance Bank (NESFB) is pleased to announce the appointment of Mr. Shrimohan Yadav as an Independent Director to its Board. Mr. Yadav, a seasoned veteran with 36 years of extensive experience in the banking sector, including 29 years at the Reserve Bank of India (RBI), brings a wealth of knowledge and insight to NESFB.

During his remarkable tenure at the RBI, Mr Yadav contributed significantly in various capacities, including as the Chief General Manager of the Department of Regulation. His expertise spans across areas such as Supervision, Regulation, Rural Development, Financial Inclusion, and Human Resources Management. Mr Yadav played a pivotal role in major initiatives, including ownership and licensing of private sector banks, mergers and acquisitions in the banking and financial sector, reconstruction of weak banks, and governance-related matters. He has been instrumental in spearheading discussions on the privatization and divestment of public sector banks with the Government of India.

Prior to his RBI tenure, Mr. Yadav worked for 7 years with a large Public Sector Bank, focusing on credit and financing.

Mr Yadav’s appointment to the NESFB board is a strategic step towards strengthening the bank’s leadership further. His vast experience and deep understanding of the banking and financial sector are invaluable assets to NESFB as it continues to grow and serve its customers.

Mr. Satish Kumar Kalra, Interim MD & CEO, NESFB, said, “Our continuous endeavour is to fortify the bank’s leadership with an emphasis on exceptional governance and diligent oversight. The addition of Mr Yadav as an independent director to the NESFB board is a strategic move in this direction. His extensive and unparalleled experience in banking is an invaluable asset that will undoubtedly serve as a guiding force for the bank’s sustainable growth and effective corporate governance practices.”

Reflecting on his appointment, Mr Shrimohan Yadav, Independent Director, NESFB, added, “Throughout my career, I have been privileged to be associated with numerous groundbreaking initiatives in both public and private sectors. Today, NESFB finds itself at a particularly unique and pivotal point, unlike anything I have encountered in my professional journey.

The bank is uniquely positioned to drive significant transformation in grassroots banking, focusing on advancing financial inclusion and access. With its upcoming merger with slice, NESFB is set to establish a distinctly inclusive and innovative digital presence. I am honoured to contribute to this endeavour and be part of NESFB’s journey to forge a path of innovation and excellence in the banking sector.”

In December 2024, NESFB appointed Mr Satish Kumar Kalra as its Interim MD & CEO.