Mahindra & Mahindra Financial Services Ltd, which is part of the Mahindra Group, has appointed Raul Rebello as its new Chief Operating Officer (COO) with immediate effect. Rebello was appointed COO after Rajnish Agarwal's moved to Mahindra Rural Housing Finance Ltd (MRHFL).
A career banker, Raul has nearly two decades of experience in rural banking and financial inclusion. Before Mahindra Finance, he was with Axis Bank Ltd as EVP & head, rural lending and financial inclusion.
"As we work very deep into the rural market, the next 3-4 years could be critical with a good rural bounce back, capitalising on all emerging opportunities in the rural market. We are broad basing our management team to be able to handle all our new initiatives, to go deeper and make the rural market bigger for us," said Mahindra Finance Chairman and MD Ramesh Iyer.
Rebello said the plans which they have discussed for the financial arm and its subsidiaries are challenging, yet exciting. "I see significant potential in the combination of my core business expertise and MMFSL's resident knowledge and people."
Raul was with Axis Bank for nearly two decades. During his stint, he has led key businesses including farmer funding, gold loans, MSME lending, commodity loans, tractor and farm equipment lending, agri-value chain finance, microfinance (retail and wholesale) and the financial inclusion department. He also led the business correspondent channel, including over 15,000 partner outlets and the Micro ATM channel.
Raul is credited with several transformational interventions -- introducing various end-to-end digital initiatives and paperless loan journeys for low-income households besides launching suitable phygital tools and customer journeys.
Mahindra & Mahindra Financial Services, which focuses on the rural and semi-urban sector, has over 7.3 million customers and has an AUM of over $11 billion.
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