Nilesh Ghuge: Championing Financial Inclusion By Accelerating Sustainable Growth
Nilesh Ghuge
CEO
Nilesh Ghuge exemplifies this ethos, steering Western Capital towards a future defined by financial inclusion and sustainable growth. With a keen understanding of banking intricacies and a penchant for innovation, his strategic vision positions Western Capital as a trailblazer in empowering MSMEs and underserved communities.
Engaging in an idiosyncratic interaction with CEO Insights magazine, Nilesh shares the imperious details of his journey and future road map for Western Capital. Let’s hear it from him.
Could you share your journey to success, spanning over two decades, and distill your key success principles?
It all began at ICICI Bank, where I started as a branch sales manager, embracing every challenge with enthusiasm and dedication. Within the first five years, I had ascended through the ranks, moving from a branch to a national level role, thanks to both my individual performance and the recognition and support of the organization.
Throughout this journey, I have held firmly to several key principles that have guided me to success. Firstly, I believe in demonstrating ownership and leading by example. Whether as an individual contributor or a leader, taking responsibility and showing dedication to the task at hand has been crucial. Secondly, I have maintained a strong focus on execution alongside strategic vision. Recognizing that great plans are only as good as their implementation, I have emphasized the importance of executional rigor at every level of my career. Moreover, customer centricity has always been a cornerstone of my approach. Understanding and fulfilling the needs of both internal
and external customers has been instrumental in driving success.
Finally, I firmly believe in the power of human capital. Investing in the right people, empowering them with authority and ownership, and providing the necessary resources and support are essential for building high-performing teams and achieving organizational goals.
Describe Western Capital as an entity and assess its current market standing.
Western Capital was founded by Anil Kejriwal in 2019 with a clear vision to cater to the MSME segment and leverage the esteemed business legacy of the Kejriwal Group. Since inception, we have experienced phenomenal growth, with disbursements soaring from five crore in 2019 to 500 crore in 2022. Our distin-guishing factor lies in our digital orientation and focus on the MSME sector, setting us apart in the market. Despite our current size, our robust tech stack and innovative product offerings position us for future success.
As we launch Prabhaav Loans, targeting micro enterprises in tier two to tier six cities, we aim to bridge the financial gap and empower underserved segments crucial for India's journey to a 5 trillion economy. Recognized with an A-stable rating from Acuite, we have garnered confidence from stakeholders and lending institutions.
Share insights into your leadership style and the principles that guide your approach.
In my 25-year journey, I have encountered and embodied various leadership styles, recognizing that effective leadership is inherently situational. Whether it's trans-formational, strategic, auto- cratic, or consultative, each approach has its place depending on the context.
Drawing from my experience as both a team member and a leader, I have embraced roles ranging from mentor and coach to autho-ritative decision maker. I firmly believe that successful leadership hinges on adaptability and the ability to tailor one's approach to the needs of the moment.
Finally, I firmly believe in the power of human capital. Investing in the right people, empowering them with authority and ownership, and providing the necessary resources and support are essential for building high-performing teams and achieving organizational goals.
Describe Western Capital as an entity and assess its current market standing.
Western Capital was founded by Anil Kejriwal in 2019 with a clear vision to cater to the MSME segment and leverage the esteemed business legacy of the Kejriwal Group. Since inception, we have experienced phenomenal growth, with disbursements soaring from five crore in 2019 to 500 crore in 2022. Our distin-guishing factor lies in our digital orientation and focus on the MSME sector, setting us apart in the market. Despite our current size, our robust tech stack and innovative product offerings position us for future success.
Recognizing the pivotal role of MSMEs in India's economy, Western Capital aims to bridge the existing credit gap & provide tailored financial solutions to fuel their expansion
As we launch Prabhaav Loans, targeting micro enterprises in tier two to tier six cities, we aim to bridge the financial gap and empower underserved segments crucial for India's journey to a 5 trillion economy. Recognized with an A-stable rating from Acuite, we have garnered confidence from stakeholders and lending institutions.
Share insights into your leadership style and the principles that guide your approach.
In my 25-year journey, I have encountered and embodied various leadership styles, recognizing that effective leadership is inherently situational. Whether it's trans-formational, strategic, auto- cratic, or consultative, each approach has its place depending on the context.
Drawing from my experience as both a team member and a leader, I have embraced roles ranging from mentor and coach to autho-ritative decision maker. I firmly believe that successful leadership hinges on adaptability and the ability to tailor one's approach to the needs of the moment.
How do you stay abreast of industry trends to drive your organization forward?
In the dynamic landscape of the BFSI sector, I recognize the importance of continuous learning to drive our organization forward. Engaging in industry forums and seminars, whether as a speaker or a listener, provides invaluable insights into emerging trends and best practices. Events such as the Bharat Fintech Fest and Global Fintech Fest offer platforms to stay updated on the latest developments shaping our industry.
Moreover, while I may not be an avid reader of books, I prioritize daily consumption of business papers such as the Economic Times and Business Standard. Spending 15-20 minutes each morning absorbing pertinent news helps me stay informed about economic shifts and market dynamics.
What future goals do you envision for your organization?
As we chart the future course for Western Capital, our vision is to serve as the catalyst for the growth and empowerment of India's Micro, Small, and Medium Enter-prises (MSMEs). Our flagship product, Prabhaav Loans, epitomizes our commitment to impact financing, guiding MSMEs towards sustainable growth.
Over the next three to four years, we aim to build a substantial loan book, with Prabhaav Loans driving the majority of our growth. By leveraging a phygital model, combining physical infrastructure with digital innovation, we are poised to deliver superior service and address the diverse needs of our customers effecti-vely.
Nilesh Ghuge, CEO, Western Capital
Armed with a B.Tech in Chemical Engineering from LIT Nagpur and a Management degree from JBIMS Mumbai, Nilesh Ghuge has held critical positions in esteemed organi-zations like ICICI Bank, YES Bank, Reliance Commercial Finance, and L&T Finance. With expertise spanning MSME, rural and urban banking, equipment finance, mortgages, and more, his career reflects a strong commitment to driving financial inclusion and fostering growth across varied segments and geographies.
•Hobbies:Cycling, Strength training, Yoga, Sports
•Favorite Cuisine:Local cuisine whenever in the country - Indian is best
•Favorite Book:7 Habits of Highly Effective People by Stephen Covey
•Favorite Travel Destination:India, with the depth of its beauty and diverse culture
In the dynamic landscape of the BFSI sector, I recognize the importance of continuous learning to drive our organization forward. Engaging in industry forums and seminars, whether as a speaker or a listener, provides invaluable insights into emerging trends and best practices. Events such as the Bharat Fintech Fest and Global Fintech Fest offer platforms to stay updated on the latest developments shaping our industry.
Moreover, while I may not be an avid reader of books, I prioritize daily consumption of business papers such as the Economic Times and Business Standard. Spending 15-20 minutes each morning absorbing pertinent news helps me stay informed about economic shifts and market dynamics.
What future goals do you envision for your organization?
As we chart the future course for Western Capital, our vision is to serve as the catalyst for the growth and empowerment of India's Micro, Small, and Medium Enter-prises (MSMEs). Our flagship product, Prabhaav Loans, epitomizes our commitment to impact financing, guiding MSMEs towards sustainable growth.
Over the next three to four years, we aim to build a substantial loan book, with Prabhaav Loans driving the majority of our growth. By leveraging a phygital model, combining physical infrastructure with digital innovation, we are poised to deliver superior service and address the diverse needs of our customers effecti-vely.
Nilesh Ghuge, CEO, Western Capital
Armed with a B.Tech in Chemical Engineering from LIT Nagpur and a Management degree from JBIMS Mumbai, Nilesh Ghuge has held critical positions in esteemed organi-zations like ICICI Bank, YES Bank, Reliance Commercial Finance, and L&T Finance. With expertise spanning MSME, rural and urban banking, equipment finance, mortgages, and more, his career reflects a strong commitment to driving financial inclusion and fostering growth across varied segments and geographies.
•Hobbies:Cycling, Strength training, Yoga, Sports
•Favorite Cuisine:Local cuisine whenever in the country - Indian is best
•Favorite Book:7 Habits of Highly Effective People by Stephen Covey
•Favorite Travel Destination:India, with the depth of its beauty and diverse culture