SATYA MicroCapital Appoints Former Executive Director of RBI, Deepali Pant Rajeev Joshi as Independent Director

SATYA MicroCapital Ltd., one of the rapidly expanding growing NBFC-MFIs in the country announced the appointment of Mrs. Deepali Pant Rajeev Joshi, as a new Independent Director on the Company’s Board with effect from September 24, 2021. 

Deepali Pant Rajeev Joshi, Independent Director – SATYA MicroCapital Ltd.

Mrs. Joshi’s appointment backs SATYA’s Commitment towards strong corporate governance and independent board oversight. This progression will capacitate SATYA in strengthening its corporate strategy and customer centric approach. Her presence will certainly augment the top management team to facilitate the necessary leadership direction and support.

Mrs. Joshi has more than 36 years of proficient experience and record of successful delivery through a range of challenging and diverse assignments. She has done post-doctoral work in Finance and Economics (on secondment from the RBI) from Harvard University Harvard Asia Centre. She is member of Executive Council University of Allahabad, Governing Council SA-DHAN, The Outstanding Speaker Bureau and serving as Director in various Indian Companies. She had also served as nominee on behalf of RBI on the board of Andhra Bank, Northeast Institute of Bank Management, Institute of Banking Personnel Selection I.B.P.S. and she had also served on the Board of MCX and Bhartiya Note Mudran Press (RBI Currency Pass). She has been awarded as the Skoch Challenger award for contribution to Financial Inclusion, Chancellors medal at the University of Allahabad for academic proficiency and Amarnath Jha Gold Medal, University of Allahabad.

Sharing her thoughts on recent association, Mrs. Joshi stated, “It is a great pleasure for me to be welcomed on the Board of SATYA as am delighted to extend my support to the frontiers of finance to build financial capability, working towards financial inclusion and economic growth. It will be an honour contributing towards accelerating the growth trajectory of SATYA MicroCapital Limited

Mr. Vivek Tiwari, MD, CIO & CEO, SATYA MicroCapital Ltd. said, “Mrs. Deepali Pant Rajiv Joshi needs no introduction in BFSI space. We are honoured to welcome her and look forward to working with her to pursue long-term value creation. Her lauding presence is an exemplary fit for the company’s board. With her appointment, we’ve added yet another honourable industry expert to SATYA’s adept Board of Directors. Her substantial expertise in financial inclusion, combined with her background in microfinance will help us refine our dynamic corporate strategy. Her rich experience will be an invaluable asset as we advance towards SATYA’s anticipated vision of evolving as a figitech company.”

About SATYA MicroCapital Ltd.

Headquartered in New Delhi, SATYA MicroCapital Ltd is an RBI registered NBFC-MFI, which fundamentally serves low-income and underserved entrepreneurs by extending micro loans in India’s rural and semi-urban areas since its inception in October 2016. Currently, with a dedicated team of over 3000 employees, SATYA has expanded its massive terrestrial presence in over 25,000 villages through 257 branches in 183 districts across 21 states. Till August 31st, 2021, SATYA has disbursed loans to more than 6,00,000 households in its operational journey of less than five years – A Milestone for growth of any MFI in India, a first of its own kind.