Aavas Financiers CEO Resigns, Manu Yeshpal Singh Appointed as Successor

Aavas Financiers Announces Resignation of Managing Director and CEO

Aavas Financiers' board has accepted the resignation of Managing Director and Chief Executive Officer Sachinderpalsingh Jitendrasingh Bhinder, as per a stock exchange filing on Monday. Bhinder will step down from his position with effect from the close of business hours on April 20, 2026. In his resignation letter, he cited personal and professional commitments as the reason for his decision to transition from his current role.

Bhinder formally tendered his resignation as Managing Director and Chief Executive Officer effective from the close of business hours on Monday. He expressed his gratitude to the company in his closing remarks, stating that it has been a privilege to lead the Company and contribute to its growth and transformation over the years.

The board has approved the appointment of Manu Yeshpal Singh as Managing Director and Chief Executive Officer with effect from April 21, subject to approvals from the Reserve Bank of India and the company's shareholders. Singh will continue to provide continuity and support to the company as a senior advisor after his departure.

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Manu Yeshpal Singh: A Seasoned Professional

Manu Yeshpal Singh brings over two decades of experience in retail lending, housing finance, and consumer banking to his new role. His notable positions include President and Business Head for Housing Finance at Kotak Mahindra Bank, where he oversaw a business franchise of around Rs 70,000 crore. He was elevated twice in five years, most recently in 2024.

Prior to his tenure at Kotak, Singh led the Business Head for Salaried Personal Loans at the bank, growing the loan book from Rs 4,000 crore to Rs 12,000 crore while maintaining portfolio quality. Before joining Kotak, he spent more than a decade at Tata Capital, where he managed large retail portfolios across vehicle loans, business loans, and mortgages.

Appointment Timeline and Share Price

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The appointment of Manu Yeshpal Singh as Managing Director will become effective after receipt of the necessary regulatory and shareholder approvals. Meanwhile, Aavas Financiers shares were trading marginally lower at Rs 1,347, down 0.07 per cent, at 10:12 am on NSE.

Note: The comparison table highlights Manu Yeshpal Singh's achievements at Kotak Mahindra Bank.