Raul Rebello has been named the new chief operating officer (COO) of Mahindra & Mahindra Financial Services, which is part of the Mahindra Group, effective immediately.
Raul Rebello has taken the position of the then COO of M&M Rajnish Agarwal, who has now moved to Mahindra Rural Housing Finance Ltd (MRHFL).
Raul has nearly two decades of extensive experience in rural banking and financial inclusion, according to the company. He was employed as EVP & Head-Rural Lending & Financial Inclusion before joining Mahindra Finance at Axis Bank Limited.
A number of Raul's initiatives have had a profound impact on society, such as the introduction of a variety of end-to-end digital initiatives and paperless loan journeys for low-income households, as well as the introduction of appropriate phygital (physical plus digital) tools. Raul holds a master's degree in management from the Goa Institute of Management and is a member of several industries and trade unions.
Asked about Raul's appointment, Mahindra Finance's Vice-Chairman and Managing Director Ramesh Iyer said: Raul led key businesses at Axis Bank for nearly two decades, including farmer funding, gold loans, MSME lending, commodity loans, tractor and farm equipment lending, agri-value chain finance, retail and wholesale microfinance, and the financial inclusion department. He also oversaw the bank's business correspondent channel, which includes 15000+ partner outlets, as well as the bank's Micro ATM channel. Through light format banking outlets, micro-ATMs, and rural ecosystem partnerships, he played a key role in expanding the bank's distribution in rural and semi-urban areas.
On this the COO of Mahindra and Mahindra replied, “I am absolutely delighted to be part of the diversified
Mahindra Group and Mahindra Finance in particular,”
He further added, "The plans for the financial arm and its subsidiaries that we've discussed are both challenging and exciting. The combination of my core business expertise and MMFSL's resident knowledge and people has a lot of potential for me. I am confident that we will be able to add significant value together, and I look forward to a mutually beneficial relationship.”
Mahindra & Mahindra Financial Services (M&M Financial Services), part of the Mahindra Group, is a non-banking finance company. It focuses on the rural and semi-urban sector and has over 7.3 million customers plus an AUM of over $11 billion.