From AXIS to SMFG India Credit: Financial circles are buzzing about Ravi Narayanan's unexpected move

By a staff reporter: Changes in leadership can have a significant impact on boardrooms and markets in the dynamic world of Indian finance. SMFG India Credit is starting a new phase. Experienced banker Ravi Narayanan has been named the company's new Chief Executive Officer (CEO). The organization is a major non-banking financial institution (NBFC). On August 28, 2025, he will formally assume his role. Given that Narayanan departed Axis Bank only a few months ago, his entry is already sparking rumors. Why would a well-known executive quit so abruptly? Let's examine this intriguing change in more detail.

Fundamentally, SMFG India Credit is a significant participant in the financial services industry in India. With more than 30 lakh clients and assets of over 60,000 crore rupees, it specializes in personal loans, retail lending, and other consumer-focused financial products. It is not simply another NBFC, supported by Sumitomo Mitsui Financial Group (SMFG) of Japan.Through a vast branch network, it hopes to increase its presence throughout the nation. Hiring a CEO with decades of expertise like Narayanan suggests big intentions for the future.

SMFG India Credit Chairman Rajeev Kannan said he was thrilled about the hire. "We are delighted to welcome Ravi Narayanan as our CEO," he stated in a statement regarding the strategic match. His more than thirty years of practical experience in branch operations and retail banking will propel SMFG to new heights and generate substantial value for our shareholders. For us, this changes the game. In a field where growth and trust are strongly related, Narayanan's performance history may be a catalyst for quicker advancement.

There is more to the story, though, as Narayanan's exit from Axis Bank was not typical. He shocked the financial world by abruptly leaving at the age of 55, when the majority of top executives are doing well and have job security. He has spent many years working for Axis Bank, one of the biggest private sector lenders in India. He held significant positions and even sat on the boards of subsidiaries such as Axis Mutual Fund and Axis Securities. His departure occurred in March, just before the fiscal year ended, which sparked concerns because it probably meant losing out on a sizable yearly bonus—a risk that no high-earning boss takes lightly.

There may be more to his leaving, according to rumors circulating in the financial community. According to sources, Narayanan resigned with disappointment as his relationship with Axis Bank worsened. He initially presented himself as someone who was prepared to go it alone by stating that he wanted to pursue entrepreneurship as the reason for his departure. But that business venture never materialized, which begs the question: Were internal disputes at play, or was this a wise move toward a better opportunity? 

Even though his past is being questioned, Narayanan is concentrating on the future. "Building on our solid foundation, I'm excited to work with the dedicated team and leaders at SMFG India Credit," he said with assurance about his new position. Accelerating our retail business, fostering sustainable growth, and enhancing client interactions through our nationwide branch network are among my top priorities. To deliver long-term benefit for all stakeholders, we will place a high emphasis on risk management, a strong compliance culture, and strategic alliances.