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What is the story about?
Asirvad Micro Finance Limited, a subsidiary of Manappuram Finance Limited, has elevated G D Manoj Pasangha, who joined the company as co-chief executive officer in October 2025, to managing director and chief executive officer (MD and CEO) following approval from the Reserve Bank of India (RBI).
Before joining Asirvad, Pasangha served as president and deputy CEO of IIFL Samasta Finance Limited.
Under his leadership, Asirvad returned to profitability, reporting a profit after tax of ₹21 crore in the first quarter of the financial year 2026-27, the company said in a press release on Thursday, October 22.
The company said it will focus on strengthening portfolio quality, improving collection efficiency and operational productivity, and reinforcing risk management, corporate governance and regulatory compliance.
Asirvad has on-book assets exceeding ₹8,000 crore, comprising approximately 70% microfinance loans and 30% gold loans. It plans to build on its microfinance business while pursuing further opportunities in gold lending, drawing on the expertise of its parent, Manappuram Finance.
V P Nandakumar, chairman of Asirvad Micro Finance, said Pasangha had brought industry experience, leadership and a focus on business performance to the company over the past year. He expressed confidence that Pasangha would strengthen its operations and support sustainable growth.
Pasangha said the company's priorities would include responsible growth, improved portfolio quality, strong governance and operational excellence.
Asirvad Micro Finance operates through a network of 1,724 branches across 22 states and four Union Territories. It offers microfinance and gold loans, with a focus on expanding access to formal financial services for underserved communities.
Before joining Asirvad, Pasangha served as president and deputy CEO of IIFL Samasta Finance Limited.
Under his leadership, Asirvad returned to profitability, reporting a profit after tax of ₹21 crore in the first quarter of the financial year 2026-27, the company said in a press release on Thursday, October 22.
The company said it will focus on strengthening portfolio quality, improving collection efficiency and operational productivity, and reinforcing risk management, corporate governance and regulatory compliance.
Asirvad has on-book assets exceeding ₹8,000 crore, comprising approximately 70% microfinance loans and 30% gold loans. It plans to build on its microfinance business while pursuing further opportunities in gold lending, drawing on the expertise of its parent, Manappuram Finance.
V P Nandakumar, chairman of Asirvad Micro Finance, said Pasangha had brought industry experience, leadership and a focus on business performance to the company over the past year. He expressed confidence that Pasangha would strengthen its operations and support sustainable growth.
Pasangha said the company's priorities would include responsible growth, improved portfolio quality, strong governance and operational excellence.
Asirvad Micro Finance operates through a network of 1,724 branches across 22 states and four Union Territories. It offers microfinance and gold loans, with a focus on expanding access to formal financial services for underserved communities.
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