Satin Creditcare Network Limited (SCNL), one of India’s leading microfinance institutions, has announced the appointment of two distinguished professionals, Ashok Kumar Sharma and Anupam Kunal Gangaher, as Independent Directors to its Board. Their appointments are for a period of three (3) consecutive years, effective June 27, 2025, and are subject to shareholder approval at the upcoming Annual General Meeting.
The addition of Sharma and Gangaher reaffirms SCNL's commitment to maintaining strong governance and strategic oversight. It also marks the continuation of the board-strengthening efforts initiated in 2024 with the onboarding of Independent Directors Joydeep Datta Gupta (June 2024) and Jyoti Davar Vij (September 2024). With these new appointments, SCNL remains focused on building a diverse and experienced Board to guide its long-term vision and growth.
The new appointees include
Ashok Kumar Sharma is a former Executive Director of the Life Insurance Corporation of India (LIC), where he held a wide range of leadership and operational roles over nearly four decades. He brings with him over 40 years of rich experience in India’s financial services sector, spanning insurance, banking, capital markets, venture capital, and regulatory frameworks. Following his retirement, he joined the LIC IPO as an Advisor, contributing to one of India’s most significant public offerings. He also served as Director & CEO at LICHFL Asset Management Company Ltd. for more than four years, where he led the operations and strategic direction of its Real Estate Fund, focusing on investment strategy, compliance and investor confidence. In addition, he was associated with IDBI Bank as General Manager from October 2022 to March 2024, contributing to key areas such as regulatory oversight, banking operations, and stakeholder engagement.
Anupam Kunal Gangaher is a seasoned Chartered Accountant with over 40 years of experience in audit, taxation, and financial advisory. A graduate of Delhi University and proprietor of A.K. Gangaher & Co., he has advised Indian and multinational clients across sectors including manufacturing, trading, hospitality, exports, software, and financial services. His core expertise lies in direct and indirect taxation, transfer pricing, and non-resident taxation, with extensive experience representing clients before statutory authorities.
The induction of these two accomplished professionals represents another pivotal step in Satin's journey towards building a world-class governance framework. Combined with the Company's recent board enhancements and its 'AA' ESG rating from ESG Risk Assessments and Insights Ltd., these appointments demonstrate SCNL's sustained commitment to exceptional environmental, social, and governance practices while maintaining its leadership position in the microfinance sector.
Commenting on the appointments, Dr. HP Singh, Chairman cum Managing Director of Satin Creditcare, said,"At Satin Creditcare, we view corporate governance not merely as a compliance requirement, but as a strategic pillar for sustainable growth and stakeholder trust. A strong, diverse, and future-ready Board is central to this philosophy. Satin is proud to be a well-governed institution, with a balanced composition of non-independent andindependent directors, ensuring transparent oversight and strategic direction. As we move forward, we are pleased to welcome Ashok Kumar Sharma andAnupam Kunal Gangaher as Independent Directors. Both bring extensive experience across finance, governance, and institutional strategy. Theirdiverse perspectives and strong credentials will significantly strengthen our Board’s capabilities as we continue to scale our mission of responsible financial inclusion.”
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About Satin Creditcare Network Limited
Satin Creditcare Network Limited (SCNL or Satin) is a leading microfinance institution (MFI) in the country with presence in
29 states & union territories and over 90,000 villages. The Company’s mission is to be a leading micro financial institution byproviding a comprehensive range of products and services for the financially under-served community. The Company aimsto lead in gender empowerment by leveraging on technology and innovation that forge sustainable strategic partnerships.
The Company also offers a bouquet of financial products in the Non‐MFI segment, comprising of loans to MSMEs andaffordable housing loans. In April 2017, SCNL incorporated a wholly-owned housing finance subsidiary Satin Housing FinanceLimited (SHFL) for providing loans in the affordable and micro-housing segment. In January 2019, SCNL received separateNBFC license to commence MSME business through Satin Finserv Limited (SFL). In August 2024, SCNL incorporated asubsidiary for software services, Satin Technologies Limited (STL) dedicated to developing innovative, world-class technology solutions by leveraging cutting-edge technologies.As on 31stMarch2025, Satin group had 1,568 branches and a headcount of 16,705 across 29 states and union territories, serving 33.6lakh clients.
