Aye Finance Names Three Independent Directors To Board

Aye Finance, a Gurugram-based fintech company specialising in providing credit to micro-enterprises, has announced the appointment of three independent directors to its board.

The newly appointed directors are Govinda Rajulu Chintala, Sanjaya Gupta and Kanika Bhal.

Rajulu Chintala has previously served as the Chairman of the National Bank for Agriculture and Rural Development (Nabard).

Sanjaya Gupta brings experience from his role as the Managing Director and CEO of PNB Housing Finance.

Kanika Bhal holds the position of Modi Chair Professor at the Department of Management Studies at IIT Delhi.

Since its establishment in 2014, Aye Finance has disbursed over Rs 8,000 crore in credit. The fintech reported a significant increase in net profit, reaching Rs 38.67 crore in the first quarter of the current fiscal year. 

This marks nearly four times the net profit compared to the same period in the previous year when it was Rs 9.78 crore. In the financial year 2022-23, the company reported a total profit of Rs 60 crore.