New Delhi [India], May 29 : Fast growing NBFCs based out of Jaipur, Rajasthan and floated by ex-senior banker Mohit Sahney, Finova capital on Monday announced its association with Rajiv Sabharwal as the strategic advisor.
Sabharwal, currently partner at the True North Managers LLP (previously, India Value Fund Advisors) will be involved in the overall business strategy, growth and development of Finova capital.
"It gives me immense pleasure to welcome Rajiv Sabharwal as our Strategic Advisor. Rajiv brings a wealth of experience in the banking and financial domain, which is going to be vital for us across a range of sectors, including strategic direction, credit and customer understanding, and the network of relationships in the industry," said MD and CEO of Finova Capital, Mohit Sahney.
"The team at Finova Capital is addressing perhaps the most pressing needs of the current times - to make credit accessible to an otherwise underserved segment of Indian MSMEs.
I wish them all the best for this endeavor," said Rajiv Sabharwal. Prior to joining True North, Rajiv was an Executive Director on the board of ICICI bank where he was responsible for several businesses including retail banking, business banking, rural/ financial inclusion business, digital bank and technology.
He has been a leading figure in the Real Estate/ Housing Finance industry and is credited with growing the housing finance industry and making ICICI Bank the leading home loan provider.
He has also been a part of different RBI and IBA committees on Banking. Founded in 2015, Finova capital is NBFC focusing on MSME lending. The idea of Finova capital germinated with a belief that, if supported well, then the MSME can play a pivotal role in growing Indian economy.
"We at Finova believe that by supporting and creating enabling opportunities for micro and small business, lives can be enriched and communities can be transformed.
The company's aim is to reach out to the financially-excluded, unorganized, and unreached MSME sector," said Mohit Sahney.