Sachin Bansal Resigns as Navi CEO, Appoints New Leadership
Sachin Bansal, the co-founder of Navi Group, has stepped down as the CEO of both Navi Technologies and Navi Finserv, marking a major restructuring within the company. He will now take on the role of executive chairman, focusing on long-term strategic growth, mergers and acquisitions, and risk management.
In his place, Rajiv Naresh has been appointed as the CEO of Navi Technologies, while Abhishek Dwivedi will head Navi Finserv. Both executives have been with Navi since its inception in 2018 and have held key leadership roles in the company.
Navi’s Leadership Shake-Up
Announcing the transition, Bansal said, “This restructuring is a strategic milestone that enables us to sharpen our focus on long-term growth. As our operations expand, managing everything alone has become increasingly challenging.”
Rajiv Naresh, who previously served as chief of staff and later vice president at Navi, will now oversee all non-lending operations. Meanwhile, Abhishek Dwivedi, who has handled roles across HR, strategy, and insurance, will lead Navi’s lending business.
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RBI’s Regulatory Challenge and Navi’s Quick Recovery
This restructuring comes just months after Navi Finserv faced regulatory hurdles. In October 2024, the Reserve Bank of India (RBI) imposed a restriction on Navi’s lending operations, citing concerns over loan pricing and compliance. However, the company made swift corrections and had the ban lifted within 40 days in December.
As of December 2024, Navi Finserv reported a loan book of ₹7,700 crore and a total income of ₹1,770 crore, with profits of ₹192 crore between April and December 2024.
Bansal’s Shift in Focus
With his new role as executive chairman, Sachin Bansal is expected to concentrate on Navi’s broader vision, expansion strategies, and potential fundraising and acquisition opportunities. This marks another significant move in his entrepreneurial journey since his exit from Flipkart in 2018, when he sold his stake for $1 billion following Walmart’s acquisition of the e-commerce giant.
Navi Group’s restructuring signals a new chapter for the company as it looks to strengthen its market position while ensuring regulatory compliance and long-term growth.
