Padmaja Reddy : Charting New Horizons In Financial Inclusion With Keertana Finserv
Padmaja Reddy
Promoter & Managing Director
One such remarkable leader is Padmaja Reddy, the Promoter and Managing Director of Keertana Finserv. Padmaja Reddy's journey in finance began with the establishment of Spandana, a Micro Finance Institution (MFI), in 1998. Under her stewardship, Spandana grew to become the second-largest MFI in India by 2009. Despite facing adversity when the Andhra Pradesh government's ordinance disrupted microfinance activities, Padmaja navigated Spandana through the challenging waters, leading it through a Corporate Debt Restructuring (CDR) process. Her unwavering determination saw the company emerge stronger, eventually achieving a successful IPO in 2019.
Reflecting on her experiences, Padmaja acknowledges the vulnerability of micro finance as a monoline product, parti-cularly highlighted by the impact of the COVID-19 pandemic. Despite the challenges, her vision remains focused on building sustainable and stable businesses that can withstand market fluctuations and crises.
In April 2022, Padmaja Reddy assumed the role of Promoter and Managing Director at Keertana Finserv. Leveraging her extensive experience in financial services, she has been instrumental in steering Keertana towards remarkable growth. Formerly known as Rajshree Tracom, Keertana has swiftly emerged as a prominent Non-Banking Financial Institution (NBFI) in South India, catering to the financial needs of lower and middle-income segments.
Under Padmaja's leadership, Keertana has witnessed exponential growth, with an impressive Assets Under Management (AUM) of Rs1,850Cr. Her strategic insights, coupled with a focus on institutionalizing systems, policies, and technology adop-tion, have positioned Keertana as a key player in the industry.
Padmaja Reddy's tenure at Keertana exempli fies her commitment to
driving sustainable growth and fostering financial inclusion. With a proven track record of transforming organizations and navigating challenges, she continues to inspire and pave the way for women leaders in finance.
CEO Insights engaged in a one on one interaction with Padmaja Reddy. Let’s delve into this interaction to know more.
What guides your approach to leader-ship, and how do you ensure its integra-tion across your organization?
My leadership ethos revolves around leading through personal example, a principle I endeavor to embed at all organizational echelons. Central to my philosophy is a steadfast commitment to excellence, advocating that every endeavor we undertake should be executed with utmost quality. Across diverse business sectors, my aim is to consistently exemplify leadership.
At the core of my leadership style lie ethics and unwavering integrity. I hold these values as nonnegotiables and ensure their adherence by every stakeholder within the organization. By embodying these principles and nurturing a culture of excellence my goal is to cultivate a workplace where leadership is synonymous with integrity and the relentless pursuit of perfection.
How do you balance the need to innovate and take risks with the need to maintain stability and profitability?
As an organization deeply committed to serving our customers, we prioritize maintaining close connections with both our clients and frontline staff. Whenever there's feedback or insights regarding customer needs or ways to enhance their experience, we respond with agility by swiftly incorporating best practices.
We perceive innovation not as a singular event but as an ongoing, integral aspect of our daily operations. However, before implementing any changes, we conduct a comprehensive evaluation of their potential impacts, carefully considering the associated risks.
Our focus remains steadfast on ensuring that our products and policies remain customer-centric while conducting business with the utmost ethics and fairness. This approach forms the bedrock for
Padmaja Reddy's tenure at Keertana exemplifies her commitment to driving sustainable gro-wth & fostering fin-ancial inclusion
CEO Insights engaged in a one on one interaction with Padmaja Reddy. Let’s delve into this interaction to know more.
What guides your approach to leader-ship, and how do you ensure its integra-tion across your organization?
My leadership ethos revolves around leading through personal example, a principle I endeavor to embed at all organizational echelons. Central to my philosophy is a steadfast commitment to excellence, advocating that every endeavor we undertake should be executed with utmost quality. Across diverse business sectors, my aim is to consistently exemplify leadership.
At the core of my leadership style lie ethics and unwavering integrity. I hold these values as nonnegotiables and ensure their adherence by every stakeholder within the organization. By embodying these principles and nurturing a culture of excellence my goal is to cultivate a workplace where leadership is synonymous with integrity and the relentless pursuit of perfection.
How do you balance the need to innovate and take risks with the need to maintain stability and profitability?
As an organization deeply committed to serving our customers, we prioritize maintaining close connections with both our clients and frontline staff. Whenever there's feedback or insights regarding customer needs or ways to enhance their experience, we respond with agility by swiftly incorporating best practices.
We perceive innovation not as a singular event but as an ongoing, integral aspect of our daily operations. However, before implementing any changes, we conduct a comprehensive evaluation of their potential impacts, carefully considering the associated risks.
Our focus remains steadfast on ensuring that our products and policies remain customer-centric while conducting business with the utmost ethics and fairness. This approach forms the bedrock for
sustaining profitability. Remarkably, Keertana achieved break even in its inaugural month, with our profitability consistently surpassing industry bench marks. This achievement underscores our dedication to seamlessly integrating innovation, risk management, and the core values that underpin both customer satisfaction and business prosperity.
How do you identify and cultivate talent within your organization, and what importance do you attribute to mentorship in this endeavor?
In a rapidly expanding organization, emp-loyees are presented with opportunities for career advancement. Key factors such as capability and commitment hold significant importance in our criteria for employee promotion. Regular evaluations, conducted every six months, ensure a transparent and equitable assessment of each employee's readiness for increased responsibilities.
Mentorship is integral to our talent development strategy. Our leadership philosophy, emphasizing leading by example, fosters the emergence of numerous leaders within the organization. Over the past 20 months, our workforce has expanded significantly to a team of 1,600employees, show-casing our dedication to nurturing talent and leadership through a combi-nation of structured evaluations and mentorship initiatives.
Keertana Finserv serves as a prime example of the rapid establishment of a resilient institution through a combination of capability, dedication, hard work, and success. It serves as an inspiration, motivating us to persist and surpass our limits in pursuit of our aspirations. With unwavering determination and the right mindset, Keertana has demonstrated that extraordinary achievements are attainable.
Padmaja Reddy, Promoter & Managing Director, Keertana Finserv
Padmaja Reddy, Promoter and Managing Director of Keertana Finserv, is a seasoned leader in the finance sector. With over two decades of experience, she founded Spandana Sphoorty Financial, leading it to become one of India's largest MFIs. Padmaja's strategic prowess revived Spandana post the 2010 Micro-finance crisis, culminating in a succes-sful IPO in under two years.
She holds a master’s in Business Admini-stration and has undergone Microfinance training from prestigious institutions. Her leadership philosophy emphasizes integrity, excellence, and fostering a culture of growth. Padmaja's visionary leadership continues to drive Keertana's prominence in the financial industry.
How do you identify and cultivate talent within your organization, and what importance do you attribute to mentorship in this endeavor?
In a rapidly expanding organization, emp-loyees are presented with opportunities for career advancement. Key factors such as capability and commitment hold significant importance in our criteria for employee promotion. Regular evaluations, conducted every six months, ensure a transparent and equitable assessment of each employee's readiness for increased responsibilities.
Mentorship is integral to our talent development strategy. Our leadership philosophy, emphasizing leading by example, fosters the emergence of numerous leaders within the organization. Over the past 20 months, our workforce has expanded significantly to a team of 1,600employees, show-casing our dedication to nurturing talent and leadership through a combi-nation of structured evaluations and mentorship initiatives.
Keertana Finserv serves as a prime example of the rapid establishment of a resilient institution through a combination of capability, dedication, hard work, and success. It serves as an inspiration, motivating us to persist and surpass our limits in pursuit of our aspirations. With unwavering determination and the right mindset, Keertana has demonstrated that extraordinary achievements are attainable.
Padmaja Reddy, Promoter & Managing Director, Keertana Finserv
Padmaja Reddy, Promoter and Managing Director of Keertana Finserv, is a seasoned leader in the finance sector. With over two decades of experience, she founded Spandana Sphoorty Financial, leading it to become one of India's largest MFIs. Padmaja's strategic prowess revived Spandana post the 2010 Micro-finance crisis, culminating in a succes-sful IPO in under two years.
She holds a master’s in Business Admini-stration and has undergone Microfinance training from prestigious institutions. Her leadership philosophy emphasizes integrity, excellence, and fostering a culture of growth. Padmaja's visionary leadership continues to drive Keertana's prominence in the financial industry.