M.V. Nair is a four-decade industry veteran who has held major roles as Chairman of TransUnion CIBIL, Indian Banks Association, and Union Bank of India. Propelld, an Indian leader in digital education loans, announced today that finance industry veteran M. V. Nair has joined its board of directors as a Director. M. V. Nair has played a prominent role in India's financial services business for more than four decades, serving as an operator, advisor, board member, and investor in various pioneering organizations.
Mr. Nair is the Non-Executive Chairman of KFin Technologies Limited, India's foremost registration and investor servicing company, which recently went public in December 2022. He builds on his substantial term as Chairman of Transunion CIBIL, India's largest Credit Bureau, by serving as an advisor to TransUnion LLC, a leading worldwide credit reporting organization. He also serves as an advisor to a select group of private equity and venture-backed firms.
Mr. Nair has held key positions in a number of significant financial organizations, most notably as Chairman and Managing Director of Union Bank of India and Dena Bank, as well as Chairman of SWIFT India Domestic Services Private Limited and the Indian Banks' Association. His extensive experience includes serving on committees for the Ministry of Finance, the Reserve Bank of India, the Confederation of Indian Industry, and FICCI, all of which focus on banking and financial services. He currently serves on the advisory committees of the Insolvency and Bankruptcy Board of India (IBBI) and the International Financial Services Centres Authority (IFSCA), demonstrating his significant financial skills and leadership.
"We are excited to benefit from Mr. M. V. Nair's extensive expertise and deep insights to further our mission of democratizing access to education." He has played a key role in shaping fintech startups including CIBIL and KFin, as well as overseeing other systemically significant financial services institutions. We want Propelld to be a trailblazing institution that transforms access to education through funding. Mr Nair's skills will assist us in building Propelld on a solid basis of industry-leading governance and compliance, strengthening our company strategy, and deepening our ties throughout the industry', stated Bibhu Prasad Das, Propelld's Founder and CEO.
"Propelld is part of a new generation of fintech players who are reshaping the industry through strong fundamentals, innovation, and customer-centric solutions." "I'm excited to contribute to this momentum," M. V. Nair added.
Edgrow, a Propelld wholly-owned subsidiary, just secured an NBFC licence.
The dynamic trio of Bibhu Prasad Das, Victor Senapaty, and Brijesh Samantaray created Propelld in 2018. It was the first to offer novel education loan financing options such as Study Now and Pay Later programmes and Income Sharing Agreements. In the education loan category, the company has a first-mover advantage because it has gone beyond typical credit evaluation methodologies to provide collateral-free education financing. The Series-B funded Propelled is firmly on an accelerated growth path, one that is focused on organic expansion and building on favorable student testimonials, with a 2,000+ strong partner network.
About Propelld
Propelld is a FinTech business based in Bengaluru that specializes in education finance. The core objective of the business is to democratize access to education and increase India's gross enrolment ratio (GER) by removing financial barriers to the right education through customized financial products. As part of the overall education infrastructure, the organization offers personalized loan packages based on the end-use of the course and the borrower's profile. Their 100% digital, hassle-free method is designed to help tier 2 and tier 3 students and their families realize their educational goals. Unlike traditional lenders, Propelld offers a unique underwriting system that looks beyond the credit score and considers the student's future potential.
