Protean eGov Technologies Announces Appointments of New Director and Managing Director & CEO Pending Shareholder Approval

Protean eGov Technologies Announces Appointments of New Director and Managing Director & CEO Pending Shareholder Approval​

Protean eGov Technologies Limited has announced appointments related to its board structure, including a new director and the appointment of Mr. Ajay Rajan as the Managing Director and Chief Executive Officer (MD & CEO). The appointments are subject to approval by the company's members through a postal ballot activity.

The Board of Directors, in a resolution dated July 15, 2026, approved the Postal Ballot Notice concerning these executive changes. Concurrently, Mr. Nandkumar Saravade has been appointed as a Non-Executive Independent Director for a term of three years, effective from June 1, 2026.

New Management Appointments Detail​

The appointments involve two key individuals, detailed below:

• Mr. Ajay Rajan: Appointed as a Director and subsequently designated as the Managing Director & Chief Executive Officer (MD & CEO) of the Company with effect from June 1, 2026, for a three-year term.
• Mr. Nandkumar Saravade: Appointed as a Non-Executive Independent Director for a first term of three years, effective from June 1, 2026.

The details and tenure for these appointments are presented in the table below:

Profile Highlights of Appointed Directors​

Mr. Ajay Rajan: Managing Director & Chief Executive Officer
Mr. Ajay Rajan, aged 51, brings extensive experience from the banking sector with over 30 years in corporate, digital, and transaction banking roles. He was part of the senior management team at YES Bank for over 8.5 years, where he managed Transaction Banking and Digital Banking product units, spearheaded Government, Multinational, and New Economy Businesses, and oversaw the IFSC Unit at Gift City, Ahmedabad.

His professional background includes devising and executing overall business strategy across client segments, driving innovation in the Consumer and Corporate Banking spaces through services like Payments, Cash Management, Trade Finance, and Supply Chain. He has also served as a thought leader for the Fintech ecosystem, fostering partnership initiatives with various Fintechs and Techfins. Before his tenure at YES Bank, he was the Global Head of Fintech for Deutsche Bank, where he spent over 21.5 years in various leadership roles. Mr. Rajan holds a Bachelor of Commerce degree from Delhi University and possesses an MBA.

Mr. Nandkumar Saravade: Non-Executive Independent Director
Mr. Nandkumar Saravade, aged 64, is a seasoned strategist and board member with nearly four decades of experience spanning law enforcement, banking, cyber security, and technology management. He currently serves on the boards of Sahamati Foundation, AU Small Finance Bank, and Jio BlackRock Asset Management.

His previous professional milestones include serving as the founding CEO of Reserve Bank Information Technology Pvt Ltd (ReBIT), established by RBI in 2016 for technology services and cyber security of the Indian banking sector. He previously served as a Public Interest Director on BSE and held leadership roles at ICICI Bank, Citibank, and EY between 2008 and 2015. Mr. Saravade's early career included assignments with the Central Bureau of Investigation and NASSCOM after serving in the Indian Police Service. He holds engineering degrees from Government College of Engineering Aurangabad and Indian Institute of Technology Bombay.

PROTEAN Stock Price Movement​

Today, Protean eGov Technologies Limited shares edged higher to settle at ₹591.05, after gaining 0.54% in trading. The stock saw a traded volume of 164,934 shares during the session.