Reliance Commercial Finance appoints Devang Mody as CEO

New Delhi, Mar 14 Reliance Commercial Finance, a subsidiary of Reliance Capital, today announced the appointment of Devang Mody as chief executive officer.
Prior to this, Mody served as president of consumer business at Bajaj Finance.
The consumer finance business of Bajaj Finance, under his leadership, witnessed a sharp growth to its current size spanning over 300 towns, with market leadership positions across various business lines.
Mody, aged 44, has over 20 years of experience in the financial sector. He started his career with Mahajan & Aibara, and then moved on to EY, followed by a stint at GE Money Financial Services where he was VP Strategic Initiatives, before moving to Bajaj Finance.
"I am delighted to welcome Devang Mody as the new CEO of our commercial finance business, a high priority growth area for Reliance Capital in the future.
"Devang comes with an excellent track record of creating and rapidly growing highly profitable lending businesses in different segments. We expect Reliance Commercial Finance to significantly accelerate its growth momentum under his leadership," Reliance Capital Chairman Anil D Ambani said in a statement.
Reliance Commercial Finance is amongst the leading small and medium enterprise (SMEs) lenders in the non-banking finance space with assets under management of Rs 16,191 crore as of December 31, 2016.
The company, over the last eight years, has helped create success stories for over 1.3 lakh SMEs across the country covering various industries, and disbursed loans of over Rs 50,000 crore to them.
"India has embarked upon a major growth trajectory that will offer exponential growth opportunities for lending businesses," Mody said. SP JM
 
Stay updated on the go with Times of India News App. Click here to download it for your device.
Shoot

Trending News

Why Amazon’s Flipkart bid is just not high enough

Selling without MRP, expiry dates to cost etailers

TCS hits $100Bn market cap: A new phase for India Inc?

Snapdeal posts Rs 4,647 crore net loss in 2016-17

Flipkart-Walmart deal: What it means for the etailer and the whole industry

NCLAT stays CCI penalty of Rs 136cr on Google in search bias case

Walmart may rope in Google parent Alphabet for the Flipkart deal

Internet shutdown cost Indian economy $3 billion from 2012-17: Study

Flipkart and Amazon plan mega summer sales in May

International sales now account for 48% of Twitter's revenues

70% of mobile phones buyers in India opt for non-cash payments

Amazon India expects groceries & household products to account for 50% of business in 5 yrs

India to come out with a E-commerce policy framework in 6 months

Online learning platform Career Anna raises Rs 3 Cr funding

Wal-Mart will offer to buy up to 86% of Flipkart

Agritech startups Sabziwala and LivLush merge their business under new entity Kamatan

Avail Finance lands $17.2M from Matrix Partners & Ola, Freecharge and Flipkart founders

RBI suggests tax sops, self-regulation to build fintech space

Swiggy hires new CEO for its Access Service, gets new CFO

Logistics company Delhivery registers 44% increase in FY17 revenues

WeWork to acquire one of the oldest social networks, Meetup

Qualcomm rejects Broadcom's $103 billion offer

EasyRewardz gets $2 million Series-A funding

'Anemic' iPhone 8 demand drags Apple shares lower

Lending platform Lenden Club gets Rs 3.5cr in Equity Investment

On festive sales, Flipkart says 65% clients from Tier-II cities