Mahindra Group’s finance organisation has appointed Assam’s Amarjyoti Barua as its Group Chief Financial Officer or CFO. His tenure will be effective from May 17. The move, a proud moment for the State, occurred after Manoj Bhat resigned from his post to join Mahindra Holidays Resorts India as the Managing Director and CEO.
This is Amarjyoti Barua’s not first association with the Mahindra Group. He is credited for being instrumental in OFSE’s financial and operational transformation and the architect in the previous year. Barua was serving as the Group Strategy executive vice president since on May 15 of 2023.
OFSE boosts of its presence across 120 nations and revenues of a whopping 14 billion dollars.
With its headquarter in Mumbai, Mahindra & Mahindra Financial Services Limited or MMFSL is Bharat’s non-banking financial company, which is among the nation’s top tractor financiers, with 1,000 plus offices throughout the Asian nation.
Mahindra Finance, which embarked their journey as Maxi Motors Financial Services Limited and received the certificate of commencement on January 1 and February 19 in 1991 respectively, changed to present name on November 3, 1992.
Registered as an asset finance and deposit taking NBFC with the Reserve Bank of India, it started financing M&M utility transportation in 1993 and its branch in Jaipur city in 1995.
The company began its financing to non-M&M vehicles in 2002 and to commercial vehicles and construction equipment in 2009.
Its joint venture for tractor financing in the US and consolidated the product portfolio by introducing small and medium enterprises or SME financing began with Rabobank subsidiary in 2011.
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