• Sachin Bansal has stepped down as CEO of Navi Technologies and Navi Finserv but will continue as the executive chairman of Navi Group.
  • Navi Finserv was barred by the RBI from issuing new loans in October 2024 due to supervisory concerns, but the restrictions were lifted in December.

In a major leadership transition at fintech firm Navi, Sachin Bansal has stepped down as the CEO of Navi Technologies and Navi Finserv. However, he will continue to serve as the Navi Group's executive chairman, focusing on the company’s long-term strategies.

Following this transition, Navi has appointed Rajiv Naresh as the CEO of Navi Technologies and Abhishek Dwivedi as the CEO of Navi Finserv.

Naresh, who joined the company in 2019 as a director of the legal department, previously worked as a legal associate at MD&T Partners and co-founded Scribbler Magazine. Dwivedi, also with Navi since 2019, was the co-founder and CEO of Treemendous.in, a plant and landscaping services company.

Commenting on the change, Bansal said,

“Holding the position of executive chairman also allows me to dedicate my efforts to guiding the overall vision of Navi Group, while Rajiv and Abhishek will lead their respective businesses with a continued commitment to innovation and excellence.”

As executive chairman, Bansal will focus on expanding Navi’s business, steering fundraising and M&A efforts, and strengthening compliance and risk management. Additionally, he will oversee the company’s tech and data science initiatives.

Founded in 2018 by Bansal and Ankit Agarwal, Navi provides personal, vehicle, and home loans, along with services in UPI, insurance, and mutual fund investments. The company has established itself as the fourth-largest UPI app in India.

In October 2024, Navi Finserv faced regulatory scrutiny from the Reserve Bank of India (RBI), which barred it from issuing new loans due to supervisory concerns. However, the restrictions were lifted in December.

According to Care Ratings, Navi Technologies reported a profit after tax of INR 130 Cr in H1 FY25 on a total income of INR 2,614 Cr.

Edited by Harshajit Sarmah