His appointment follows approval from the Reserve Bank of India
FinTech BizNews Service
Mumbai, 22 October, 2026: Asirvad Micro Finance Limited, a subsidiary of Manappuram Finance Limited, today announced the elevation of Mr. GD Manoj Pasangha as its Managing Director and Chief Executive Officer (MD & CEO), following approval from the Reserve Bank of India (RBI).
Mr. Pasangha joined Asirvad as Co-Chief Executive Officer in October 2025. Since then, the company has returned to profitability, reporting a profit after tax of Rs21 crore in Q1 FY2027. Before joining Asirvad, he served as President & Deputy CEO of IIFL Samasta Finance Limited.
The appointment comes as Asirvad focuses on strengthening portfolio quality, governance and compliance, and building a resilient, sustainable business.
Asirvad has a diversified lending portfolio exceeding ₹8,000 crore in on-book assets, comprising approximately 70% microfinance and 30% gold loans. This gives the company a strong foundation to build on its established microfinance franchise while pursuing further opportunities in the gold loan segment, drawing on the expertise of its parent, Manappuram Finance Limited.
Under Mr. Pasangha's leadership, Asirvad will prioritise portfolio quality, collection efficiency, operational productivity, technology and customer engagement. It will also further reinforce risk management, corporate governance and regulatory compliance, balancing growth with disciplined execution.
Commenting on the appointment, Mr. V. P. Nandakumar, Chairman, Asirvad Micro Finance Limited, said: "Over the past year, Mr. Pasangha has brought extensive experience of the microfinance industry, proven leadership and a sharp focus on business performance to Asirvad. We are confident that, as MD & CEO, he will further strengthen the company's operational capabilities and drive sustainable growth, while upholding the highest standards of governance, compliance and customer service."
Mr. GD Manoj Pasangha, Managing Director & CEO, Asirvad Micro Finance Limited, said: "I am deeply honoured to lead Asirvad at this important stage in its journey, and grateful to the promoters and the Board for their continued trust. Asirvad has a strong foundation, an established presence in microfinance and the support of a respected parent in Manappuram Finance. Our priorities will be responsible growth, strong governance, improved portfolio quality and operational excellence. Equally important are our people: sustainable success comes from motivated teams and empowered leaders working towards a shared purpose. Microfinance plays a vital role in expanding access to formal credit, and we will pursue this mission with integrity, empathy and discipline."
