Karthikeyan Manickam Appointed Chairman of ESAF Small Finance Bank

ESAF Small Finance Bank has appointed seasoned banker Karthikeyan Manickam as its new Chairman. With decades of experience in public sector banking and board-level leadership, his appointment is expected to strengthen governance, risk oversight and strategic decision-making at the growing small finance bank.

Why in the News?

ESAF Small Finance Bank announced the appointment of Karthikeyan Manickam as its Chairman. A former executive director of Bank of India, he brings extensive experience in banking operations, regulation and risk management, making the development important for the banking and financial sector.

About the Appointment

• ESAF Small Finance Bank appointed Karthikeyan Manickam as its Chairman.
• The appointment aims to provide strong leadership, strategic direction and independent oversight to the bank’s board as it expands its financial inclusion and retail banking footprint.

Professional Background

• Karthikeyan Manickam is a former Executive Director of Bank of India.
• He has wide-ranging expertise in banking operations, credit monitoring, recovery, risk management, regulatory compliance and human resource management, built over decades in the Indian banking system.

Previous Board-Level Experience

• Manickam has served on the boards of several important financial institutions.
• These include Tamil Nadu Grama Bank and BOI STAR Investment Managers.
• He was also Chairman of Star Union Dai-ichi Life Insurance Company, giving him exposure across banking, asset management and insurance sectors.

Role and Responsibilities as Chairman

• As Chairman, Manickam will provide strategic guidance to ESAF Small Finance Bank’s board.
• His role includes ensuring strong corporate governance, independent oversight, regulatory compliance and long term sustainability, which are critical for small finance banks operating in competitive and regulated environments.

Small Finance Banks in India

• Small Finance Banks were created by the Reserve Bank of India to promote financial inclusion.
• They focus on serving small businesses, farmers, MSMEs and unbanked populations. Strong governance and experienced leadership are essential for balancing social objectives with financial stability.

Key Summary At Glance

Question

Q. Who has been appointed as the Chairman of ESAF Small Finance Bank in 2026?

A. Rajnish Kumar
B. Karthikeyan Manickam
C. Uday Kotak
D. Shaktikanta Das