Categories: Appointments

Magma Fincorp appoints Adar Poonawalla as chairman

Magma Fincorp has appointed Adar Poonawalla as its chairman as part of a management overhaul following the Poonawala-controlled Rising Sun Holdings acquiring a controlling stake in it. Rising Sun invested Rs 3,456 crore in the non-bank lender earlier this month. Magma will soon be rebranded as Poonawalla Group company. The lender has also appointed Abhay Bhutada as MD & Vijay Deshwal as CEO.

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Important takeaways for all competitive exams:

Magma Fincorp Headquarters: West Bengal;
Magma Fincorp Founder: Mayank Poddar and Sanjay Chamria;
Magma Fincorp Founded: 1988.

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Sumit Arora

As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.