Navi Group has announced a major leadership shift, appointing Rajiv Naresh as the new CEO of Navi Technologies Limited and Abhishek Dwivedi as the CEO of Navi Finserv Limited. Sachin Bansal, who ran both firms before, will now be the Executive Chairman. He will still help guide the group’s plans for the future.
Leadership transition for long-term growth
Rajiv Naresh and Abhishek Dwivedi have been integral to Navi since its early days, holding leadership positions over the past six years. Their promotion marks a strategic step to strengthen Navi’s focus on business expansion, compliance, and technology innovation.
Sachin Bansal said:
“This restructuring is a strategic milestone that enables us to sharpen our focus on long-term growth. Both Rajiv and Abhishek have played key roles in our journey, and I am confident in their ability to drive Navi forward.”
New responsibilities for Bansal and the CEOs
- Sachin Bansal will now focus on expansion, fundraising, mergers & acquisitions, compliance, and risk management. He will also support technology and data science innovation at Navi.
- Abhishek Dwivedi will oversee Navi’s lending businesses, ensuring operational efficiency and compliance.
- Rajiv Naresh will lead non-lending businesses, such as mutual funds and insurance, and strengthen Navi’s market presence.
RBI restrictions lifted, Navi set for growth
The change in leaders comes at a key moment after the Reserve Bank of India (RBI) lifted rules on Navi Finserv. The RBI had stopped the firm and three other small banks from making loans because of rules they did not follow. Now that these rules are gone, Navi can start to give out loans again, ready for more growth.
Navi’s strong financial performance
Despite regulatory challenges, Navi’s revenue has surged:
- FY24 revenue: ₹1,906 crore (up from ₹1,238 crore in FY23)
- Net profit: ₹668 crore, driven by asset sales and strong business performance
About Navi Group
Founded in 2018 by Sachin Bansal after his Flipkart exit, Navi Group is a tech-driven financial services company offering:
- Navi Finserv – Personal and home loans
- Navi Mutual Fund – Investment solutions
- Navi General Insurance – Health and vehicle insurance
- Chaitanya India Fin Credit – Microfinance services
The company integrates AI and machine learning to provide seamless, digital financial services. Navi had initially planned an IPO in 2022 but later withdrew its proposal.
Who are the new CEOs?
Rajiv Naresh
- Joined Navi in 2019
- Past Roles:
- Led legal, compliance, and corporate secretarial functions
- Served as Group VP, overseeing non-lending businesses
- CEO of Navi Mutual Fund since March 2023
- Previous Experience: Corporate lawyer at MD&T Partners, Bengaluru
Abhishek Dwivedi
- Joined Navi in 2019
- Past Roles:
- Chief of Staff, managing strategic initiatives
- Group Head of Sales and Business Operations
- Previous Experience: CEO of Treemendous.in, showcasing his entrepreneurial skills
Conclusion
With a new team in charge and the RBI removing limits, Navi Group is ready for big growth, fresh ideas, and a broader reach in the fintech world. Rajiv Naresh and Abhishek Dwivedi’s skills, mixed with Sachin Bansal’s competent advice, put the firm in a good spot for what lies ahead.
Also Read: Reliance acquires 74% stake in Navi Mumbai IIA for $192M
