Manish Khera

Manish Khera

Manish Khera, banker & entrepreneur

Manish Khera - banker, entrepreneur
Nationality Indian
Occupation Entrepreneur
Years active 1993-present
Known for Reaching banking to the under-banked in India
Notable work Founded India's largest business correspondent network, which served the needs of under-banked and managed it from 2006-2013

Manish Khera is a career banker and entrepreneur.

Starting at ICICI Bank in 1993, he worked through several banking roles till 2005, before he founded FINO in 2006. FINO is India's largest banking correspondent network serving over 70 mn customers.[1] He is currently setting up YTS Solutions,[2] a venture focused on serving the banking deprived customers in India. Manish Khera was selected the Young Global Leader 2011, by the World Economic Forum. Now he has been appointed as CEO of Airtel money.[3]

Early life and education

Manish graduated in electrical engineering from Delhi College of Engineering. He got his master's degree in business administration (finance) from FMS Delhi. After which he went ahead to study at Cambridge University, UK to earn his M Phil in Environment and Development.[4]

He is also a DFID Scholar.

Career in ICICI Bank (1993-2006)

In 2004, after gaining experience in corporate lending, structured lending, transaction banking and banking technology, Manish set up the Alternate Channels Group (ACG) within ICICI Bank, to service the need and opportunity of offering banking services to the banking deprived in India. ACG's objective was to find unconventional and alternate channels to provide banking services to the unserved segment.

Manish Khera worked with Reserve Bank of India to get the Business Correspondent guidelines issued working with Khan Committee, which gave recommendations for this pioneering change for financial inclusion in India.[5]

At the Alternate Channels Group, Manish designed a system that involved paperless technology and no physical infrastructure, to reach the unserved and underbanked in India. That laid the foundation for Financial Information Network and Operations Ltd. (FINO) later named FINO Paytech.

Years With FINO Paytech Ltd (2005 - 2013)

FINO Paytech Ltd., was founded in 2006, by Manish Khera. He was Chief Executive Officer and Managing Director of the company.

In 2006, Manish combined low-cost innovation aligned with customer ability and skill sets, the lack of infrastructure in India and the radical move by RBI to permit Business Correspondents to solicit and service customers, to successfully deliver banking services for the micro segment (below poverty line population) along with business profitability. This endeavor has been one of he most appreciated success stories in the micro segment category. His thought and innovative approach to the business has given area for other players in the field also to come up and create value chain for their customers of the same segment.

Years with YTS – Yatra Tatra Sarvatra [2014 till date] In 2014, after FINO Paytech Ltd., Manish Khera set up YTS Solutions. YTS stands for Yatra Tatra Sarvatra, which translates from Sanskrit into Here There, Everywhere, or in short, Ubiquitous Service.

While still in its initial phase, YTS expresses 'ubiquity' meaning that it will take care of the customers life cycle requirements and will be present everywhere to ensure that. YTS operates a mobile banking platform that helps customers carry out banking services using the mobile device.

Manish Khera is an applicant of the Small Finance Bank under RBI guidelines[6]

Awards & recognition

Manish Khera is an advocate of socially relevant businesses that are also financially viable. He has received much praise for his role as one of the thought leaders in the financial inclusion and micro-finance space in India.[7]

He has been honored and recognized as "Young Global Leader-2011" by World Economic Forum[8]

Manish has also been recognized by E&Y as the "Entrepreneur of the Year 2011"[9] and has been awarded the Forbes India Leadership award 2012 for the "Outstanding Start-Up".[10]

References

  1. ↑ Roy, Anup (13 October 2013). "FINO may change remittance business in India's hinterland". Live Mint.
  2. ↑ "YTS Solutions".
  3. ↑ "Manish Khera". World Economic Forum.
  4. ↑ Programme Specifications (PDF). University of Cambridge. 2008.
  5. ↑ Khan, H.R. (March 2012). Financial Inclusion and Financial Stability: Are They Two Sides of the Same Coin? (PDF). RBI Monthly Bulletin.
  6. ↑ Reporters, BS (24 February 2015). "Meet the Small Finance Bank and Payments Banks' aspirants". Business Standard.
  7. ↑ "Forbes India Awards FINO Start-Up of the Year". 12 October 2012.
  8. ↑ "World Economic Forum".
  9. ↑ "Entrepreneur Of The Year 2011". EY Building Better Working World.
  10. ↑ Raghunath, Abhishek (9 Oct 2012). "Taking Banks to India's Poor".


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