Press Releases

The recent additions to the Board are set to enhance governance and drive SCNL’s strategic vision forward

Satin Creditcare Network Limited (SCNL), a frontrunner in India’s microfinance sector, is proud to announce that its quest to further strengthen and build an exemplary Board has been completed with the latest addition of Ms. Jyoti Davar as an Independent Director. This marks the third addition to the Board in recent times, reflecting SCNL’s commitment to enhancing its governance and strategic oversight.

With the tenure of four existing directors coming to an end, the Company embarked on a meticulous process to find the best appointments that would uphold its high standards of governance. Recognizing the need for subject matter expertise, extensive experience, and a strong stature in the industry, SCNL strategically onboarded professionals who set a new benchmark in accountability and strategic leadership, ensuring that SCNL remains guided by a board-driven management that can navigate the evolving landscape of microfinance with integrity and foresight.

The new appointees include:

Mr. Anil Kaul, former Managing Director of Tata Capital Housing Finance, whose extensive experience with leading financial institutions such as ICICI Group, Bank Muscat SAOG, Standard Chartered Bank India, and Citibank N.A. India, brings unmatched expertise in finance and planning. He joined the Board in January 2024.

Mr. Joydeep Datta Gupta, former Partner at Deloitte India and Board Member of Deloitte Asia Pacific, joined the Board in June 2024. His distinguished career in technology and digital transformation is driving SCNL’s governance model towards cutting-edge practices in risk management and operational efficiency, ensuring robust and forward-thinking oversight.

Ms. Jyoti Davar, the most recent addition, is a distinguished business economist and a seasoned industry leader with nearly three decades of work experience with apex Indian industry associations. Through the years, she has worked across multiple sectors and with a large set of stakeholders on policy and business issues. She is currently responsible for overseeing the operations of FICCI including, its outreach to members of Indian industry across sectors and regions. Her appointment is a significant uplift to SCNL’s governance structure.

The induction of three new Directors marks a pivotal moment for Satin, reinforcing its leadership in the microfinance sector. This enhanced governance framework, coupled with the Company’s recent ‘AA’ ESG rating from ESG Risk Assessments and Insights Ltd., demonstrates its commitment to exceptional environmental, social, and governance practices. This top rating highlights its dedication to responsible finance.

Commenting on the appointments, Mr. HP Singh, Chairman cum Managing Director of Satin Creditcare, said, “We are honored to welcome these esteemed professionals to our Board. Our previous Board set a high standard of governance, guiding us through significant milestones and laying the foundation for our current success. As we transition to this enhanced Board structure, including the appointment of Ms. Jyoti Davar, we are excited to usher in a new era of strategic leadership. We are confident that their collective insights and experience will help us navigate the evolving challenges of the microfinance sector, drive innovation, and maintain the highest standards of transparency and accountability. This strengthened Board will not only uphold the legacy of our past but also propel SCNL towards greater achievements as we continue our mission of empowering communities and fostering financial inclusion.”