Aavas Financiers Appoints Banking Veteran Manu Yeshpal Singh as MD & CEO for 5-Year Term Following RBI Approval

Tata Capital, ICICI Bank

Core Specialisations

Affordable Housing Finance, Prime Mortgages, Retail Credit, Consumer Lending, Vehicle Finance

The Kotak Pedigree: Infusing Big-Bank Scale into Affordable Credit

Prior to joining Aavas Financiers, Singh was at the forefront of India’s commercial mortgage expansion as the President and Business Head of Housing Finance at Kotak Mahindra Bank. During his tenure, he played a central role in converting Kotak’s retail mortgage book into one of the fastest-growing and highest-rated home loan franchises in the banking industry.

Earlier leadership stints across Tata Capital and ICICI Bank gave Singh comprehensive ground experience spanning diverse retail asset verticals, including micro-business loans, consumer durable finance, and auto loans.

His elevation brings institutional prime-banking processes to Aavas Financiers, which primarily caters to low-and-middle-income (LMI) customers in semi-urban and rural markets who often lack formal income documentation.

Boardroom Restructuring at Aavas Financiers

Alongside the MD & CEO appointment, Aavas Financiers notified stock exchanges of key adjustments to its Board of Directors:

• Sanjeev Srinivasan has been inducted as an Additional Non-Executive Nominee Director, effective September 19, 2026.
• Anant Jain has stepped down from his role as Non-Executive Nominee Director on the same date.

These changes reflect the continued institutionalization of Aavas Financiers’ boardroom governance under private equity ownership (including backers such as CVC Capital Partners).