Profile of Board of Directors
Mr. Satish Kumar Kalra
Managing Director and Chief Executive Officer
Mr. Satish Kumar Kalra recently took the helm as the Managing Director and Chief
Executive Officer of North East Small Finance Bank (NESFB), an appointment approved
by both the NESFB board and the Reserve Bank of India. His arrival at NESFB marks a
significant phase in the bank's journey toward enhanced operational excellence and
strategic expansion, especially during the ongoing merger with the fintech company,
slice.
Mr. Kalra brings with him an extensive background in banking, with over four decades
of experience in the industry. His career began at Allahabad Bank, where he managed
various key roles across zones and branches, notably leading the international and
industrial finance branch and the treasury department.
He later joined Andhra Bank, where he significantly contributed as the Executive
Director and briefly served as the Managing Director & CEO (In-charge). During his
tenure, he was instrumental in driving the bank's growth with a notable 5-year
compound annual growth rate (CAGR) of 13% in credit disbursal, substantially higher
than the industry average. His areas of expertise include Treasury Management,
Non-Performing Asset (NPA) Credit Management, and Risk Management, all of which have
been crucial in his substantial contributions to the banks he has served.
In addition to his banking roles, Mr. Kalra has held several prestigious positions as
an independent director with organizations such as PNB GILTS Ltd., Indbank Merchant
Banking Services Ltd., JK Cement Limited, and CAN FIN Homes Ltd. His vast experience
also includes serving on the Board of Directors at India First Life Insurance Co Ltd
as a nominee director.
At his new role at NESFB, Mr. Kalra is overseeing significant strategic initiatives
including the bank's asset management and branch operations. His leadership is
expected to fortify the bank's stability and drive substantial growth, aligning with
the highest standards of governance and regulatory compliance. His focused oversight
on the integration process with slice will aim to ensure operational optimization and
a seamless cultural merger, promising a robust future for NESFB under his
stewardship.
Mr. Rajan Bajaj
Executive Director
Rajan Bajaj is the Founder of
slice, India's leading consumer payments and lending
company, which, effective 27th October 2024, has merged with North East Small Finance
Bank (NESFB). As the newly appointed Executive Director of NESFB, Rajan is set to
build India’s first AI-driven, digital-first bank, placing customer experience at its
core. This merger marks a pivotal milestone in India’s financial landscape, combining
the innovation of a leading fintech with the trusted foundation of a traditional
banking institution.
Rajan’s strategic acumen led slice to secure integral regulatory approvals to
successfully complete this merger and move closer to realizing his vision of creating
India’s Most Loved Bank. The new merged entity sets the foundation for building
India’s foremost tech-driven bank, prioritizing stability, risk management, and a
robust governance framework as its key pillars.
Dr. Ram Krishna Garg, PhD.
Independent Director
Dr. Ram Krishna Garg, PhD. Superannuated as Chief General Manager (Risk Management), from
State Bank of India, in April 2013, after heading the Bank’s North East Operations
for two years. He has vast experience in setting up New Companies for State Bank,
resolving Stressed Assets for the Bank, managing High Value Industrial credit,
Heading the Bank’s Risk Management function, heading challenging banking operations
not only in India but also abroad with responsibilities over Retail Banking including
SME, Agri, HR, and International Banking. He has also been associated with several
companies, while in service and after retirement as well.
Dr . Garg is an Honours Graduate in Physics, with a Management Post Graduate degree
from Banaras Hindu University. While he is a Certified Associate of the Indian
Institute of Bankers, he was awarded Doctorate by Gauhati University, for his thesis
on “A study of Enterprises based in North Eastern states, based on their credit
rating “in April 2015. He has undergone several professional development programmes
in Top ranking Indian and International Management Institutes
Mr. K. V. Eapen
Independent Director
Mr. K.V. Eapen is an independent director on the board of NESFB. A retired Indian
Administrative Service (IAS) officer, he brings over 35 years of experience in public
service, having served in key administrative, financial, and governance roles at the
state, central, and international levels. Throughout his career, Mr. Eapen has been
instrumental in driving administrative reforms, shaping financial policies, and
strengthening governance frameworks within the Indian government.
He has held senior leadership positions in the Ministry of Finance and the Department
of Commerce, where he contributed to advancing public sector banking, promoting
financial inclusion, and supporting regulatory development. Internationally, he
represented India as a senior advisor at the International Monetary Fund (IMF),
providing valuable insights on global financial governance.
In addition to his work at the central level, Mr. Eapen played a significant role in
the state governance of Assam and Meghalaya, where he led departments responsible for
finance, planning, power, and infrastructure development. He also served as an
administrative member at the Central Administrative Tribunal; adjudicating service
matters related to central government employees.
Mr. Eapen’s board-level experience includes directorships in public sector banks such
as Union Bank of India, along with other financial institutions and governance
bodies, adding depth to his expertise in financial oversight and institutional
governance. His experience in governance, financial policy, and public sector banking
strengthens NESFB’s strategic direction and governance standards. Mr. Eapen holds an
MSc in macro-economic policy and planning from the University of Bradford, UK, a
post-graduate diploma in business management and policy from MDI Gurgaon, an MA in
economics from the Delhi School of Economics, and a BA (Hons) in economics from St.
Stephen’s College, Delhi.
Ms. Manjula Saikia Bhuyan, IAS (Retd.)
Independent Director
Ms. Manjula Saikia Bhuyan is a Bachelor of Engineering (Electrical) from SV Regional
College, Surat (NIT) and has 36 years of experience in the field of Industrial Sector
particularly in agriculture & rural economy, Small Scale industry.
As an Indian Administrative Service (IAS) officer she worked various vital position
as Joint Secretary, Industries & Commerce, Additional Secretary, Industries &
Commerce Deptt and retired as Secretary, Industries & Commerce and Transport Deptt.
Mr. Tapan Kumar Hazarika
Independent Director
Mr. Tapan Kr Hazarika has wide experience of Agri-Banking sector having worked with
NABARD and retired as Chief General Manager. He has a Master’s Degree in Economics
from the Delhi School of Economics, University of Delhi.
During his stint with NABARD, he was looking after Corporate Planning, Business
Strategy & Development, Rural Credits and monitoring of promotional programmes. He
was instrumental in drafting, finalizing (and coordinating with DFS, MoF) various
budget proposals relating to promotion of rural credit/ development for incorporation
in the (Annual)Union Budget of GoI.
He played a key role as member in various Corporate Level Committees viz. Management
Committee, Investment Committee, ALCO etc. besides being member in the Board of
Supervision (BoS) for State Co-operative Banks (StCBs), District Central Cooperative
Banks (DCCBs) and Regional Rural Banks (RRBs) responsible for providing directions
and guidance on matters related to supervision and inspection and review of
inspection findings of these banks and suggesting appropriate measures.
Mr. Ashish Fafadia
Nominee Director
Mr. Ashish Fafadia, currently a Managing Partner at Blume Ventures, oversees the fintech
and growth portfolios, actively supporting the development of notable portfolio
companies such as slice, Purplle, Turtlemint, Jai Kisan, and Stellapps. Blume
Ventures has become a vital player in India’s startup ecosystem by investing in and
nurturing transformational ventures and visionary founders, having contributed to the
growth of over 100 startups across various geographies and sectors. Mr. Fafadia also
leads fundraising initiatives for Blume’s core, opportunity, and continuity funds
across the MENA region, Southeast Asia, and India. He is a Chartered Accountant (CA)
from the Institute of Chartered Accountants of India (ICAI) and has over 20+ years of
experience in the venture capital and private equity industry establishing himself as
a seasoned finance professional.
A member of Blume’s leadership since 2012, Mr. Fafadia has been instrumental in
developing Blume’s platform team and in founding Constellation Blu, a transaction and
financial advisory firm. His contributions have been key to expanding Blume’s
capabilities and impact.
Mr. Fafadia’s expertise as a thought leader in venture capital, captured in Blume’s
Future of Money report and Fintech thesis, is complemented by his active involvement
with industry bodies like IVCA and the PEVC CFO association. This deep understanding
of fintech and growth strategies will bring valuable insights to NESFB, helping the
bank strengthen its strategic direction and innovate in financial solutions.
As a Chartered Accountant and Company Secretary, Mr. Fafadia has also contributed as
a speaker and visiting faculty at top business schools. Based in Mumbai, he brings
over a decade of prior experience from Times Group, Standard Chartered Bank, and
State Bank of India, positioning him to provide NESFB with high-impact financial
guidance and sector expertise.
Mr. SHRIMOHAN YADAV
Independent Director
Mr. Shrimohan Yadav is an Advisor in the Financial Services space with an
experience of 29 years in Reserve Bank of India, wherein he worked in diverse
areas including Supervision, Regulation, Rural Development, Financial
Inclusion, Human Resources Management, etc.
As Chief General Manager of Department of Regulation for 5 years, he headed
divisions handling matters relating to ownership and licensing of private
sector banks (Universal Banks/ Small Finance Banks/ Payments Banks);
acquisitions in banks/NBFCs/HFCs/ARCs; amalgamation and restructuring of banks
under stress; merger of NBFCs with private sector banks; and governance
related issues (including executive compensation practices, constitution of
board and board committees) in banks and NBFCs. He spearheaded the discussions
with Government of India on privatization/divestment of public sector banks.
He was the lead manager and key contributor of ‘Internal Working Group to
Review Extant Ownership Guidelines and Corporate Structure for Indian Private
Sector Banks’ (2020) and ‘Discussion Paper on Governance in Banks’ (2020),
instructions on governance in banks (2021). He was member of ‘Compensation
Monitoring Contact Group’ of the Financial Stability Board, Basel,
Switzerland. He was also a member of an Expert Committee set up by Insolvency
and Bankruptcy Board of India (IBBI). He is also member of Insurance Advisory
Committee, set up by IRDAI
Prior to joining RBI, he worked with a large Public Sector Bank for 7 years
and gained experience in credit and financing. He is also an MBA and CAIIB
(Certified Associate of Indian Institute of Bankers).
Mr. Samit Shankar Shetty
Independent Director
Mr. Samit Shankar Shetty is an accomplished finance professional with a
distinguished career spanning over two decades, characterized by
successful entrepreneurship, specializing in microfinance, NBFC
management and strategic leadership. He has demonstrated success in
founding and managing financial institutions, driving, digital lending
initiatives, and executing mergers and acquisitions. He has proven his
ability in leading teams toward organizational growth, adept at
leveraging technical expertise in finance and risk management to
achieve business objectives. He has experience in Microfinance and NBFC
operations, Strategic leadership, Mergers and acquisition, Business
development. Supply chain management, Entrepreneurship, Regulatory
Compliance.
He is the Founder and Director of Alfenas Natural Solutions Pvt. Ltd. &
New Soul Restoration Pvt. Ltd. Both these new companies work in the
space of Agro- Forestry and private reforestation. These firms are
trying to bring private capital to manage shared lands for sustainable
farming, tourism and forestry. He was earlier the Vice President of M&A
and Strategy in Navi Technologies Ltd where he provided strategic
guidance on integration processes and post-acquisition operations for
the health insurance and mutual fund business. He was also the CEO and
Managing Director of Navi Finsrev from March 2020 to February 2021 and
started digital lending focussing on personal loans and housing finance
products. Key focus areas in Navi Finserv, was to enhance customer
experience, stabilise credit risk, onboarding automation and fraud
detection.
He Co-Founded Chaitanya India Microfinance in 2009 and was its Managing
Director from April 2014 to March 2020. Chaitanya is a rural-focussed
microfinance NBFC, he led the company till its strategic sale to Navi
Group. He established & managed another NBFC, Chaitanya Rural
Intermediations (CRIDS) specializing in two-wheeler and housing loans.
Chaitanya's MFI operations scaled to 7 States with 250 branches under
his leadership. Before setting up Chaitanya he was a Partner at IGSA
Solutions Private limited from October 2008. His Managerial experience
was with the Singapore Based Commodity Major "Olam International Group"
from 1999-2008. As the Country Manager of Brazil at Olam International
from 2004 to 2008 he started Olam's Coffee Business operations in
Brazil, scaling it from scratch to a turnover of close to $200 million
USD, managing a diverse multi national team. He has worked with Olam in
Tanzania, and Cote d’Ivore, contributing the Company’s global expansion
and market leadership in coffee. He has been on the Board of several
reputed Companies. He has been associated with NESFB since 28/03/2024.
Mr. Nikhil Sachdev
Nominee Director
Mr. Nikhil Sachdev is a Managing Director at Insight Partners, where he helps lead
investments in high-growth software and fintech companies, supporting their journey
from initial funding stages to significant growth phases. With over 17 years of
experience, he has a specialized focus on investments within software and fintech,
drawing on extensive knowledge of both technology and finance. Insight Partners has
invested in more than 800 companies worldwide, over 55 of which have successfully
reached IPO status. Mr. Sachdev brings a valuable global perspective through his
collaboration with founders across the United States, Europe, India, Southeast Asia,
and Latin America. He holds a BA with Honors in Economics from Stanford University
and an MBA from Harvard Business School.
Mr. Sachdev began his career at Goldman Sachs, advising technology companies in cloud
and mobile sectors, which laid the groundwork for his expertise in the field. He then
moved to Bain Capital, where he applied an operational focus to investments,
emphasizing sustainable growth. His interest in impactful business strategies led him
to Harvard Business School, where he worked with a Sequoia-backed startup,
reinforcing his commitment to technology and venture capital.
At Altimeter Capital, Mr. Sachdev held the role of Partner, leading investments
across software, cloud infrastructure, online marketplaces, and other high-growth
areas. This role solidified his skills in identifying and supporting successful
businesses. Mr. Sachdev’s experience in investment and growth strategy becomes an
asset to NESFB as the bank continues its journey of growth and transformation. His
expertise is expected to contribute significantly to NESFB’s strategic direction and
long-term value creation.
Mr. Eugene Karthak
Independent Director
Mr. Eugene Karthak brings decades of leadership experience in regulatory governance,
banking supervision, and strategic oversight. He most notably served as Executive
Director at the Reserve Bank of India (RBI), where he was responsible for leading
critical departments including Information Technology and Corporate Services. In his
tenure at RBI, he held key leadership roles as Regional Director in Delhi and
Bengaluru, where he was instrumental in driving regulatory compliance, productivity,
and policy implementation across multiple banking institutions.
Mr. Karthak’s extensive contributions to India’s financial sector include leading
financial inclusion initiatives as Chief General Manager at RBI Kolkata, covering the
states of West Bengal, Sikkim, and the Andaman & Nicobar Islands. Throughout his RBI
career, he was an active member of several high-level committees such as the Change
Control Board, DG's Committee, ED's Committee, and the Building Sub-Committee,
contributing to strategic decision-making at the highest levels.
In addition to his regulatory leadership, Mr. Karthak served as RBI’s Nominee
Director on the Board of Andhra Bank, participating in critical governance functions
through the Audit, Remuneration, IT, and Management Committees. He also brings
experience in independent governance through his previous role as Independent
Director at Jana Small Finance Bank, where he provided strategic oversight and
board-level leadership. He currently serves as Director at the Indian Institute of
Bank Management, Guwahati, further contributing to capacity building in the banking
sector.
Mr. Karthak’s deep expertise in regulatory frameworks, operational governance, and
strategic leadership makes him a valuable asset as NESFB continues its journey of
transformation and responsible growth. Mr. Karthak is a graduate of St. Stephens
College, Delhi University and completed his Post graduation from Jawaharlal Nehru
University (JNU). He has also completed an Executive Programme focused on management
from Graduate School of Business, Stanford University and University of Maryland,
Washington.
