Nikhil Mohan: Navigating Financial Frontiers With Industrial Expertise
Nikhil Mohan
CEO
Nikhil Mohan, an Economics graduate from Patna College, Patna University, embarked on his banking journey as a Directly Recruited Officer at Bank of Baroda in 1999. Throughout his tenure, he pursued continuous learning, acquiring certi-fications such as JAIIB, CAIIB, and specialized courses in banking, finance, KYC/AML, and cybersecurity from IIBF. With extensive experience spanning various roles within Bank of Baroda, including Branch Head, Credit Head, and Regional Head across India and the United Kingdom, Nikhil assumed the role of MD & CEO at The Nainital Bank in July 2022. His diverse expertise and visionary leadership drive the bank's growth and success in today's dynamic banking landscape. Let’s read more about him in this one on one interaction.
Could you give a brief account of your professional background and experiences? What is the motivation that fuels your daily routines?
I am Nikhil Mohan, the Managing Director and CEO of The Nainital Bank, a renowned banking institution with a rich history dating back to its inception in 1922. Established with a vision to uplift the community from the clutches of private money lenders, the bank has thrived under my leadership, offering cutting-edge banking services across North India.
My journey began as a probationary officer at Bank of Baroda in 1999, where I honed my skills and expertise over the years. With a background in Economics from Patna University, I've served in various capacities both nationally and inter nationally, managing branches, regions, and administrative offices with dedication and passion.
Throughout my career, my motivation has been to drive posi
tive change and innovation in the banking sector, empowering individuals and businesses with financial solutions that make a difference in their lives. As a leader, I strive to inspire my team with a combination of business acumen and personal charisma, fostering a culture of success and growth within the organization.
My journey is a testament to the power of perseverance and dedication in achieving professional excellence and I am committed to continue leading The Nainital Bank towards even greater heights of success.
How would you define Nainital Bank as an organization and its current position in the market?
Nainital Bank, a subsidiary of Bank of Baroda, boasts over a century of history since its establishment in 1922. Head quartered in Nainital, it operates across Uttarakhand, UP, Delhi, Haryana, and Rajasthan. With robust banking funda mentals, it has earned a reputable position in the market, particularly dominating the Kumaun belt of Uttarakhand. Offering a comprehensive range of banking services from deposits to mutual funds, it aims to be a one stop banking solution, consistently delivering profits and growth, solidifying its status in the industry.
What fundamental factors guide your recommendations for financial/wealth management plans for clients? How do you tailor your offerings to suit individual needs?
Challenges are inevitable in any role or circumstance. Through experience and observation, one learns to navigate each challenge as it arises. A crucial aspect in facing challenges is timing the need to assess situations thoroughly before taking action. Some challenges require patience, allowing them to unfold fully, while others resolve on their own. Certain issues demand immediate attention to prevent escalation. Therefore, timing plays a critical role in addressing challenges effectively. Each experience underscores the importance of dedicating full attention to the task at hand, ensuring its thorough completion and personal satisfaction.
I advise clients to diversify their wealth across various maturity brackets, ensuring consistent wealth creation and conversion into cash flows.
Positivity, empowerment, trust, support during genuine mistakes, & avoidance of blame games are crucial elements for eliciting the best from a team
My journey is a testament to the power of perseverance and dedication in achieving professional excellence and I am committed to continue leading The Nainital Bank towards even greater heights of success.
How would you define Nainital Bank as an organization and its current position in the market?
Nainital Bank, a subsidiary of Bank of Baroda, boasts over a century of history since its establishment in 1922. Head quartered in Nainital, it operates across Uttarakhand, UP, Delhi, Haryana, and Rajasthan. With robust banking funda mentals, it has earned a reputable position in the market, particularly dominating the Kumaun belt of Uttarakhand. Offering a comprehensive range of banking services from deposits to mutual funds, it aims to be a one stop banking solution, consistently delivering profits and growth, solidifying its status in the industry.
What fundamental factors guide your recommendations for financial/wealth management plans for clients? How do you tailor your offerings to suit individual needs?
Challenges are inevitable in any role or circumstance. Through experience and observation, one learns to navigate each challenge as it arises. A crucial aspect in facing challenges is timing the need to assess situations thoroughly before taking action. Some challenges require patience, allowing them to unfold fully, while others resolve on their own. Certain issues demand immediate attention to prevent escalation. Therefore, timing plays a critical role in addressing challenges effectively. Each experience underscores the importance of dedicating full attention to the task at hand, ensuring its thorough completion and personal satisfaction.
I advise clients to diversify their wealth across various maturity brackets, ensuring consistent wealth creation and conversion into cash flows.
My philosophy is to view every challenge as an opportunity waiting to be seized, optimizing its potential as circumstances evolve. In essence, it's about maximizing the available opportunity cost.
Share your leadership approach and the principles you adhere to as a leader.
I prioritize accessibility and active involvement, leading by example in the day-to-day operations. By engaging directly with team members, customers, and stakeholders, I foster greater unity within the organization. I believe in granting autonomy to team members to execute their ideas while outlining overarching goals. Positivity, empowerment, trust, support during genuine mistakes, and avoidance of blame games are crucial elements for eliciting the best from a team. Additionally, being a patient listener enhances leadership effectiveness. These are the methodologies I employ in guiding my team at The Nainital Bank.
How do you stay informed about current industry trends to guide your organization towards the future?
Remaining well-informed is crucial for effective leadership. Despite a demanding schedule, I allocate time for personal development, staying abreast of the latest in the Banking Industry. Interacting with colleagues, peers, and subordinates provides valuable insights. Regular engagement with regulatory teams and leaders of peer banks is another avenue I explore to stay updated. I make a concerted effort to incorporate all these approaches to ensure I am well versed in ongoing industry trends.
What are your aspirations for the future?
Our goal is to emerge as a key player in the markets of UP and Uttarakhand by 2028, with plans to extend our presence into additional states. Leveraging our progress in transitioning to the CBS platform and achieving business growth and profit-ability, we aim to solidify our position in the industry and evolve into a techno-logically advanced AI-driven banking institution by 2028.
Nikhil Mohan, CEO, Nainital Bank
Nikhil Mohan, an Economics graduate, joined Bank of Baroda in 1999 as a Directly Recruited Officer. He obtained certifications in banking, finance, KYC/AML, and cybersecurity from IIBF. With extensive experience across various roles in India and the UK, he now serves as MD & CEO of The Nainital Bank.
•Awards & Recognition: Won various awards for achieving business targets while working as Regioal Manager of Pune District and Mumbai Metro West Region.
Share your leadership approach and the principles you adhere to as a leader.
I prioritize accessibility and active involvement, leading by example in the day-to-day operations. By engaging directly with team members, customers, and stakeholders, I foster greater unity within the organization. I believe in granting autonomy to team members to execute their ideas while outlining overarching goals. Positivity, empowerment, trust, support during genuine mistakes, and avoidance of blame games are crucial elements for eliciting the best from a team. Additionally, being a patient listener enhances leadership effectiveness. These are the methodologies I employ in guiding my team at The Nainital Bank.
How do you stay informed about current industry trends to guide your organization towards the future?
Remaining well-informed is crucial for effective leadership. Despite a demanding schedule, I allocate time for personal development, staying abreast of the latest in the Banking Industry. Interacting with colleagues, peers, and subordinates provides valuable insights. Regular engagement with regulatory teams and leaders of peer banks is another avenue I explore to stay updated. I make a concerted effort to incorporate all these approaches to ensure I am well versed in ongoing industry trends.
What are your aspirations for the future?
Our goal is to emerge as a key player in the markets of UP and Uttarakhand by 2028, with plans to extend our presence into additional states. Leveraging our progress in transitioning to the CBS platform and achieving business growth and profit-ability, we aim to solidify our position in the industry and evolve into a techno-logically advanced AI-driven banking institution by 2028.
Nikhil Mohan, CEO, Nainital Bank
Nikhil Mohan, an Economics graduate, joined Bank of Baroda in 1999 as a Directly Recruited Officer. He obtained certifications in banking, finance, KYC/AML, and cybersecurity from IIBF. With extensive experience across various roles in India and the UK, he now serves as MD & CEO of The Nainital Bank.
•Awards & Recognition: Won various awards for achieving business targets while working as Regioal Manager of Pune District and Mumbai Metro West Region.