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KOLKATA: Former financial services secretary DK Mittal has taken over as the chairman of microfinance company Arohan Financial Services, which is planning to publicly list its shares later this year.
Mittal, an Indian Administrative Service officer of 1977 batch from UP cadre will be the independent chairman to Arohan’s board.
Arohan, a part of the Aavishkaar-Intellecap Group, announced it Wednesday. The Kolkata-based MFI is the seventh largest in terms of outstanding loans at the end of 2017.
“We are delighted to have Mr Mittal join us at the board,” Arohan Managing Director Manoj Nambiar was quoted as saying in a press statement.
Vineet Rai, founder of Aavishkaar-Intellecap Group said, “We are indeed privileged to have Mr Mittal join as an Independent Chairman to the board at Arohan.