Nilesh Dalvi steps up as CFO of CreditAccess Grameen: What this means for the microfinance sector

CreditAccess Grameen Limited (NSE: CREDITACC, BSE: 541770), India’s largest Non-Banking Financial Company-Micro Finance Institution (NBFC-MFI), has announced the promotion of Nilesh Dalvi to the role of Chief Financial Officer (CFO), effective immediately. This strategic move comes as the company continues to expand its impact in the microfinance sector, which has seen significant growth and evolving challenges in recent years.

Nilesh Dalvi’s Expanded Role and Extensive Expertise

Nilesh Dalvi, who previously held the position of Senior Vice President – Head of Investor Relations & ESG, now steps into the CFO role with a mandate to enhance CreditAccess Grameen’s financial strategies and operations. Dalvi brings a wealth of experience from over 16 years in financial management and investor relations, with a notable international career spanning markets in India, the United States, the Middle East, and Europe.

His journey with CreditAccess Grameen began in 2019, during which he has played a pivotal role in shaping the company’s financial policies and investor relations strategies. Dalvi’s expertise includes Business Planning and Budgeting, Financial Analysis and Strategy, Capital and Fund Raising, and ESG (Environmental, Social, and Governance) initiatives. His academic credentials bolster his new role; he is a Chartered Financial Analyst (CFA) from the CFA Institute in the USA, holds a Financial Risk Manager (FRM) certification from the Global Association of Risk Professionals, and possesses advanced degrees in Finance and Electronics from Mumbai University.

Leadership Statements and Strategic Vision

In his new role, Nilesh Dalvi expressed his enthusiasm and commitment: “I am both honoured and excited to step into the role of Chief Financial Officer at CreditAccess Grameen. This organisation is at the forefront of enhancing the well-being of rural communities through inclusive finance. My goal is to strengthen our financial framework and drive our strategic vision forward, ensuring we remain a trusted partner in the microfinance space.”

Ganesh Narayanan, Chief Executive Officer of CreditAccess Grameen, endorsed the promotion, stating, “We are delighted to elevate Nilesh Dalvi to the position of Chief Financial Officer. His comprehensive financial acumen, extensive experience, and exceptional leadership qualities make him the perfect fit for this role. I am confident that Nilesh will not only reinforce our market position but also deliver substantial value to all stakeholders through his strategic vision and dedication.”

Expanding Impact in the Microfinance Sector

CreditAccess Grameen’s move to promote Nilesh Dalvi comes at a critical time for the microfinance sector in India, which has seen significant developments over the past decade. The sector plays a crucial role in providing financial services to underserved populations, particularly women in rural areas. With over 1,976 branches across 388 districts in 16 states and one union territory, CreditAccess Grameen has established a strong presence in the microfinance landscape.

The company, founded by CreditAccess India B.V., a multinational specializing in micro and small enterprise financing, is backed by institutional investors and boasts over ten years of experience in micro-lending. As the sector continues to evolve, with increasing focus on digital transformation and regulatory changes, CreditAccess Grameen’s leadership, under Dalvi’s financial stewardship, is poised to navigate these challenges effectively.

About CreditAccess Grameen Limited

CreditAccess Grameen Limited is headquartered in Bengaluru and is renowned for its focus on micro-loans, primarily targeting women in rural India. The company’s expansive operations across multiple states and union territories underscore its commitment to fostering financial inclusion and empowering underserved communities. With its strong foundation and experienced leadership team, CreditAccess Grameen remains a significant player in the Indian microfinance sector.