Munish Jain's appointment as a full-time director was announced by Capital Small Finance Bank. His nomination as a full-time director for a term of three years beginning on August 28, 2023, was accepted by the Reserve Bank of India, which led to the announcement. Previously working as the Chief Operating Officer, he has been connected to Capital Small Finance Bank since the year 2000.
"I consider it an honour to join Capital Small Finance Bank as executive director. Having worked for this organisation for more than 20 years, I'm eager to support its strategic expansion and further solidify our dedication to providing first-rate financial services. Munish Jain stated, "I'm excited to use my experience and knowledge to promote innovation and value for our clients, stakeholders, and the bank as a whole.
In the field of banking, Munish Jain has years of experience and knowledge. He is a distinguished fellow member of the Institute of Chartered Accountants of India and the Institute of Company Secretaries of India and has a bachelor's degree in commerce. He has 22 years of experience in the banking industry, working in areas including finance, compliance, treasury management, strategic decision-making, and the effective implementation of strategic projects.
Earlier this month, Capital Small Finance Bank Limited released its fiscal first quarter profits, noting that the bank's overall business increased by 15.58% to Rs 12,584 crore for the quarter ending June 2023. The first quarter of the previous fiscal year had a total business of Rs 10,888 crore for the bank with its headquarters in Jalandhar. Deposits increased by 14.64% to Rs 7,064 crore, and advances increased by 16.81% to Rs 5,519 crore. In the first quarter of the current fiscal year, the bank's net value climbed by 28.81% to Rs 691 crore.
