Last Updated on February 15, 2025 by IPO Manthan Team
Sachin Bansal resigns as NAVI CEO, marking a significant leadership shift at Navi Finserv Limited (NFL) and Navi Technologies Limited (NTL). He will now serve as the Executive Chairman of the Navi Group, stepping away from day-to-day operations. This move is part of a broader strategy to focus on long-term growth.
New Leadership at Navi
Following Sachin Bansal’s resignation, Rajiv Naresh has been appointed as the new CEO of Navi Technologies Limited, while Abhishek Dwivedi will take over as CEO of Navi Finserv Limited. Both executives have been with the company since its inception in 2018 and have held key leadership positions.
The restructuring aims to streamline operations and strengthen Navi’s position in the financial sector. Bansal’s transition to Executive Chairman will allow him to focus on strategic decisions rather than daily management.
Regulatory Challenges and Leadership Change
Sachin Bansal resigns as NAVI CEO following a period of regulatory scrutiny. The Reserve Bank of India (RBI) had temporarily restricted Navi Finserv’s lending operations for about 40 days due to compliance concerns. After addressing the deficiencies and committing to regulatory guidelines, the RBI lifted the restrictions.
While the leadership change is presented as a strategic move, it comes at a time when the company is ensuring it aligns with financial regulations. This shift may help Navi regain stability and continue its expansion in the digital lending space.
Sachin Bansal’s Journey with Navi
Bansal founded Navi Finserv in 2018, shortly after his e-commerce company Flipkart was acquired by Walmart. Since then, he has worked on building Navi into a significant player in the fintech industry, offering personal loans, insurance, and digital financial services.
His decision to step down as CEO reflects his evolving role in the company. As Executive Chairman, he is expected to focus on high-level strategy and long-term growth rather than operational responsibilities.
Previous Resignations from Key Roles
Sachin Bansal resigns as NAVI CEO, but this is not the first time he has stepped away from leadership positions. Over the years, he has resigned from several major roles for different reasons.
In 2016, he was replaced as Flipkart’s CEO due to performance-related issues. Later, in 2018, he left the board after disagreements with investors, reportedly due to his demand for greater control and special rights for founders and minority shareholders.
In January 2020, he resigned as an independent director of Ujjivan Small Finance Bank due to corporate governance considerations. This decision was influenced by his application for a universal banking license through an entity he owned, which could have led to conflicts of interest.
What’s Next for Navi and Sachin Bansal?
With new leadership in place, Navi is expected to continue its growth in the digital financial sector. The appointments of Rajiv Naresh and Abhishek Dwivedi signal continuity, as both executives have been deeply involved in Navi’s operations since the beginning.
For Sachin Bansal, this transition does not mean stepping away from Navi entirely. As Executive Chairman, he will still have significant influence over the company’s direction. His focus will likely be on strategic initiatives, partnerships, and regulatory compliance to strengthen Navi’s market position.
As the financial landscape evolves, Navi will need to navigate regulatory challenges while expanding its services. With Bansal taking on a broader role, the company aims to position itself for long-term success.