Sanchin Bansal stepped down from his role as Chief Executive Officer (CEO) of Navi Technologies and Navi Technologies and Navi Finserv. He will resume as the Executive Chairman of the company now. Bansal’s prime objective will be to focus more on the company’s long-term vision, expansion opportunities, fundraising, mergers, and more.
Rajiv Naresh has been appointed as the new CEO of Navi Technologies. Abhishek Dwivedi is appointed as the CEO of Navi Finserv. The new Chief Executive Officers have been associated with the company since its beginning. Their significant contributions and insights have played a crucial role in the company’s growth over the past six years.
Sachin Bansal’s Contribution
Sachin Bansal, the founder and Chairman of Navi Group, led the company through immense success and leadership. In FY 2023-24, the company generated revenue of 1238 crore from operations. Navi UPI was also launched in 2023, and within 15 months, it became the 4th largest UPI app in India. “In just 15 months, we’ve grown to become the 4th largest UPI app in India. Thank you to every user who chose Navi for making payments simpler, faster, and more rewarding. Your trust fuels our journey toward making financial products simpler, more accessible, and truly affordable,” announced LinkedIn.
In this leadership position, Naresh will supervise all the non-lending businesses of the Navi group. Dwivedi will oversee the management of the lending operations. The essential leadership change aims to focus on long-term growth and operational excellence. Sachin Bansal expressed his confidence in both the CEOs. He said that Naresh and Dwivedi have contributed to the growth of Navi Group. And, their roles will continue to play a key role in the company’s growth.
The announcement came shortly after the lifting of restrictions on the lending activities of Navi Finserv by the Reserve Bank of India (RBI). In October 2024, RBI restricted sanctioning loans and distributing those. Navi Finserv, along with three other non-banking financial companies, was restricted. The ban was lifted in December 2024, allowing the companies to start over their lending activity again.
