Manish Jaiswal has joined as the new MD & CEO of Magma Housing Finance Ltd. He succeeds Sachin Khandelwal.
Jaiswal, a BFSI veteran, will also be in additional charge of Magma’s SME Business.
He was also a member of RBI’s Usha Thorat's committee on revitalisation of distressed assets which introduced the concept of special mention accounts (SMA), joint lenders forum (JLF), corrective action planning (CAP) and central repository of information on large credits (CRILC) in Indian banking system.
Jaiswal in his prior stints is credited with setting up and building SME businesses from inception or turning them around for almost a decade and a half. He held key positions in companies such Dhanlaxmi Bank, Fullerton, Citigroup and Eicher Motors.
Magma Fincorp is a non-deposit taking non-banking finance company (NBFC), registered with the Reserve Bank of India as an asset finance company.