MANISH KHERA
Summary
Experienced banking and technology professional with a core focus on financial solutions for the micro customer. Set up scaled businesses around new business models for micro customers. Visionary with an out-of-box thinking, strong advocate of socially relevant businesses that are also financially viable. Highly results-oriented product and business development leader with a proven record of implementing various business models for micro-customers across savings, loans, and payments. Diversely experienced in global market ecosystems, banking and non-banking channels and solutions. Worked with regulator - Reserve Bank of India and in several committees across Ministry of Finance, IDRBT, IBA, NPCI, etc. To shape and expand regulation for facilitating business models to take financial services to the masses.
Overview
33
33
years of professional experience
Work History
Co-founder and CFO
ARTH Digital Loans
Gurugram
01.2022 - Current
- Developed clear mission, vision and culture for company as foundation for growth, branding and development of employee culture.
- Recruited, trained, managed, and evaluated staff.
- Collaborated with company partners to develop and actualize strategic plans to advance company's mission and objectives and promote revenue, profitability, and growth.
- Oversaw accounting functions including budgeting, forecasting and financial reporting.
- Managed overall workflow of projects from conception to completion.
- Established company to fill market gap, connecting customers directly with products.
- Provided organizational leadership and collaborated with executive partners to establish long-term goals, strategies and company policies.
- Reviewed financial statements on a regular basis to ensure accuracy of reported information.
- Cultivated relationships with banking institutions to secure favorable terms on loans and lines of credit.
- Represented organization at investor meetings; communicated corporate vision and strategy effectively.
Impact Investor, Mentor, Advisor
01.2014 - Current
- From early 2014, my next phase of career included being an Impact Investor and Board Member, where I have supported and mentored start-ups focusing on micro-customers. I have invested in many impact ventures, the most noteworthy being Meradoctor, FarMart Agri FinTech, Home Capital Affordable Housing, Healthfin, Peebuddy, SP Robotics.
- I am also investor, Board member And mentor in Arth, a NBFC which is an impact-led digital Micro MSME Fintech Company founded with the objective to deliver access to affordable financial services and livelihood support to millions of last-mile unbanked & underserved micro-entrepreneurs with a special focus on women-owned businesses, from the remotest parts of India.
CEO
AIRTEL MONEY SERVICES LIMITED (AMSL)
01.2015 - 01.2016
- As CEO of AMSL within a short period of 10 months tripled the business volumes and revenues which had been stagnant for last 2 years with a significantly lower manpower through sharp strategy and better business processes and controls.
- Prepared business plan and partnerships for setting up a complete digital and physical bank leveraging Airtel's distribution network approved by the Board.
- Worked towards setting up of Airtel Payments Bank under in-principle license granted by RBI to Airtel in partnership with Kotak Bank. Airtel Payments Bank is the only and the first entity to be granted Section 22 approval by RBI amongst the 11 successful applicants. Airtel Payments Bank would be launched soon.
Founder & Managing Director
FINANCIAL INCLUSION NETWORK AND OPERATIONS (FINO)
01.2006 - 01.2013
- Since FINO's inception in 2006, led and pioneered setting up the globally largest and least cost business correspondent network to serve micro-customers through a completely technology enabled platform for rural illiterate poor people in India through biometric cards. FINO reached a scale of over 70 mn customers being serviced through an agent network of over 35,000 agents covering over 50,000 villages, largest globally.
- Set up a MFI (Intrepid - 100% subsidiary of FINO) with portfolio of over Rs. 250 crore across over 100 branches around own book and BC oriented JLG lending model but dovetailed with liabilities, insurance and remittance products showcasing a complete financial services model to the industry.
- Conceived together with Ministry of labor India's first health insurance scheme for Below Poverty Line (BPL) citizens - Rashtriya Swasthya Bima Yojna (RSBY). Over 200 mn lives insured under the program across the country, with annual premium in excess of Rs. 5000 crore.
- Worked on several committees of RBI, IDRBT, IBA, Ministry of Finance to facilitate relevant regulation for taking financial services to micro customers in India leveraging global knowledge and connects.
Joint General Manager, Products and Technology
ICICI BANK LIMITED
05.1993 - 01.2006
- Worked across corporate banking, government business and mass/rural banking.
- Began as a Management Trainee in May 1993 and worked across the bank managing corporate banking, transaction banking, and technology and rose to Joint General Manager, Products and Technology.
- Headed Government Banking Group in North and worked on empaneling ICICI Bank as a private Bank to collect government taxes - central and state for the first time in the country together with Reserve Bank of India (RBI), Ministry of Finance and Comptroller of Accounts.
- Worked with Ministry of Railways and created online railways ticketing platform in IRCTC (today largest e-commerce site globally).
- Headed the Citizen Services practice in ICICI Bank taking the best practices of various state governments in taking e-Pgov services to their citizens. Worked across many states viz A P (e-P seva and A P online), Rajasthan (Lokmitra), Punjab (Sukhmani), etc.
- Was the technology partner for the Rural Micro Agri Group (RMAG) in ICICI in his last assignment. As part of the same set up a new team P Alternate Channels Group (ACG) in the bank. The ACG team developed business models to take banking solutions for the rural micro customer segment through alternate and unconventional channels. This laid the foundation of the assisted banking (Business Correspondent) model that finally developed into Financial Inclusion Network Operator (FINO).
- Worked with Khan Committee in 2005 and introduced Business Correspondent guidelines in India opening up banking for the micro customer.
Education
MPhil - Environment and Development
Cambridge University
Cambridge, UK10-1999
MBA - Finance
Faculty of Management Studies (FMS)
Delhi, India01.1993
BE - Electrical
Delhi College of Engineering (DCE)
Delhi, India08-1991
Skills
- Strategic planning
- Team leadership
- Stakeholder engagement
- Innovation and vision
- Legal compliance
- Regulatory and compliance
Recognition
- DfiD scholar in Cambridge
- Young Global Leader 2011
- Shortlisted for 'Entrepreneur of the Year' in 2012 by E&Y
- Forbes India Leadership Award 2012 for 'Outstanding Start-up'
Timeline
Co-founder and CFO
ARTH Digital Loans
01.2022 - Current
CEO
AIRTEL MONEY SERVICES LIMITED (AMSL)
01.2015 - 01.2016
Impact Investor, Mentor, Advisor
01.2014 - Current
Founder & Managing Director
FINANCIAL INCLUSION NETWORK AND OPERATIONS (FINO)
01.2006 - 01.2013
Joint General Manager, Products and Technology
ICICI BANK LIMITED
05.1993 - 01.2006
MPhil - Environment and Development
Cambridge University
MBA - Finance
Faculty of Management Studies (FMS)
BE - Electrical
Delhi College of Engineering (DCE)