ESAF Small Finance Bank Board Approves Key Appointments, Includes New CRO and Head of Internal Audit

ESAF Small Finance Bank Board Approves Key Appointments, Includes New CRO and Head of Internal Audit​

ESAF Small Finance Bank Ltd announced the outcome of its Board meeting held on Thursday, June 04, 2026, detailing several significant appointments to its senior management and board. The decisions included the appointment of two new directors and key personnel changes in Chief Risk Officer (CRO) and Head of Internal Audit.

The Board, acting upon recommendations from the Nomination, Remuneration and Compensation Committee of the Bank (NRCCB), approved the appointment of Shri. Ashok Tukaram Dhamankar as a Non-Executive Independent Director. This appointment is for a period of Three consecutive years and is subject to approval by the shareholders in the ensuing Annual General Meeting or through Postal Ballot.

Shri. Dhamankar, described as a seasoned finance and fintech professional, currently serves as the Founder and CEO of FinBridge Access to Capital Aggregators Private Limited. His background includes senior leadership roles such as Group CFO at Samunnati Financial Intermediation & Services and experience with National Collateral Management Services Limited, focusing on agri-financing and collateral management ecosystems.

Additionally, Shri. Hari Velloor was approved for the role of Non-Executive Director. Like the first appointment, this position is set for a term of Three consecutive years and is conditional upon shareholder approval. Shri. Velloor is a seasoned banking professional with over three decades of experience across public sector, private sector, and small finance banks. His previous roles included Executive Vice President (2022 - 2026) and Senior Vice President (2019 - 2022) at ESAF Small Finance Bank, where he focused on credit policy and strategic development.

The bank also confirmed critical transitions within its risk and audit functions for the near future. Shri. G Narasimha Murthy was appointed as Chief Risk Officer (CRO), a role set for a period of three years commencing from August 01, 2026. This appointment follows the completion of the employment contract of Shri. Wilson Cyriac, who retires on July 31, 2026.

Shri. Murthy is a Chartered Accountant qualified from the Institute of Chartered Accountants of India (ICAI) and brings deep expertise in credit risk, market risk, operational risk, audit, and governance. He previously served as Executive Vice President at Jana Small Finance Bank.

Furthermore, Shri. Poulose Bharanikulangara was appointed as Head - Internal Audit for a period of three years, effective from July 01, 2026. This appointment is made following the contract completion of Shri. Sivakumar P on June 30, 2026.

Shri. Bharanikulangara possesses over 35 years of extensive banking experience gained across India, the UAE, and Mauritius, with expertise spanning Corporate and Retail Credit, Risk Management, Audit & Inspection, Compliance, Governance, and Overseas Banking Operations. He previously served as Head - Zonal Internal Audit & Inspection at New Delhi.

The key appointments and transitions approved by the Board are summarized below:


The Board Meeting commenced at 09:30 A.M. and concluded at 01.00 P.M.

ESAFSFB Stock Price Movement​

As of 2:30 PM, shares of ESAF Small Finance Bank Limited are edging higher to ₹27.94 as they gain 0.43% in live trading. The stock is currently active within a daily range stretching from ₹27.52 to ₹28.27, supported by a volume of 181,105 shares traded so far.