Finance Industry Development Council (FIDC) has appointed T T Srinivasaraghavan, former Managing Director, Sundaram Finance as Chairman Emeritus, FIDC, and Sanjay Chamria, VC & MD, Magma Fincorp & Umesh Revankar, MD, Shriram Transport Finance as it’s Co-Chairmen with effect from April 1, 2021.

Ramesh Iyer, Chairman, FIDC states, “TTS Sir has been with the NBFC Sector for more than 40 years and his honesty and wisdom, experience and exposure is known and acknowledged by one and all. Even the Reserve Bank of India and other Government authorities look at him with the utmost respect. He has been the Torch-bearer of NBFC Sector during good times and bad times and his joining FIDC for life will immensely benefit FIDC and NBFC Sector.”

T T Srinivasaraghavan, Chairman Emeritus, FIDC states, “I am greatly humbled by this gesture on the part of FIDC. It has been my privilege to serve this industry for nearly four decades and I look forward to contributing in whatever way I can to support the excellent work being done by the FIDC management team.”

On the contribution of outgoing co-chairmen KV Srinivasan and Raman Aggarwal, Ramesh Iyer states, “K V Srinivasan and Raman Aggarwal's tenure as Co-Chairmen has been very challenging as it coincided with one of the most critical phases in the sector. Despite this, I am glad that under their guidance, FIDC has been able to take a positive and proactive stance on issues concerning the NBFC Sector and has played a significant role in some of the initiatives undertaken by the Government and the RBI to boost the sector. They will of course continue to provide all their valuable support as Directors and as Chairman of Representation Committee and Professional Development Committee respectively.”