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Financial services company Navi Finserv Limited has onboarded Anil Kumar Misra as the non-executive Chairman of its Board of Directors.

Misra, a former Executive Director of the Reserve Bank of India (RBI), will assume the role of Executive Chairman, and Sachin Bansal will continue as its CEO, the company said in a statement. During his stint at the central bank, he oversaw the supervision of banking and non-banking financial institutions.

“The addition of Mr Misra as Chairman of the Board marks a significant step forward for Navi Finserv. His deep expertise in financial services will help us as we navigate the challenges and opportunities ahead. Mr Misra’s appointment will further elevate our focus on governance and long-term sustained growth and I look forward to collaborating closely with him to build on the strong foundation we have established,” Sachin Bansal, Executive Director and CEO, Navi Finserv, said.

Misra has also held roles and served on the boards of major banks including Punjab National Bank, Jammu & Kashmir Bank, and Union Bank of India.

“It is my privilege and pleasure to be joining the Board of Directors of Navi Finserv, which has come a long way since its inception. The under-served segments of our society present enormous business opportunities to fintech companies like Navi. I look forward to working with my Board colleagues and the management team towards realising its fullest potential in a well-calibrated and prudent manner while optimally leveraging technology for effective redress of the credit gaps,” said Misra.