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TAB Capital ropes in V.S. Krishna Kumar, Former Executive Director of Canara Bank as their Independent Director

TAB Capital ropes in V.S. Krishna Kumar, Former Executive Director of Canara Bank as their Independent Director

New Delhi, September 06, 2017: TAB Capital, the award-winning Digital Lending NBFC for financing needs of MSMEs & professionals announced appointing Mr. V.S. Krishna Kumar as an Independent Director.

A B.Sc. LLB, Mr. V.S. Kumar has over 34 years of stellar Banking experience, with Canara Bank, its subsidiaries like Canbank Venture capital fund, Canara HSBC OBC Insurance company, Canara Bank securities, Canara Robeco Mutual Fund etc. & Allahabad Bank.

He has proven expertise in the field of Prime Corporate Credit, Financial Management & Subsidiaries, Information Technology & Transaction Banking, Vigilance and Human Resources Management. His rich experience has been well spanned across different Branches, Zonal and Head Offices in various geographic locations, including the West, East, Central and South India.

Commenting on his appointment, CA Abhay Bhutada, Chairperson & Managing Director of TAB Capital said, “We are glad to welcome Mr. V.S. Krishna Kumar on-board and join our team of driven and earnest professionals. While his credentials and professional odyssey carry a strong testament of his merit, I believe his efforts and expertise are going to be instrumental in TAB Capital achieving its objective of AUM worth 500 crores by 2019.

On joining the Pune-based NBFC, Mr. V.S. Krishna Kumar said, “The new-age lending platforms of today are endeavouring to fill up the credit deficit faced in the industry, especially in the tier-2 and 3 segments and the small-scale businesses. I share the TAB Capital’s vision of ushering in financial inclusion in the diverse and scattered Indian landscapes today. I look forward to my tenure with TAB Capital, and utilizing the esteemed platform created by CA Abhay Bhutada in bringing about financial inclusion in India.”

About TAB Capital: 

TAB Capital Limited is the fastest growing and Award-winning NBFC headquartered in Pune and founded by CA Abhay Bhutada. Registered with the RBI as a Non-Deposit taking, the NBFC is revolutionizing Digital Lending for SME Finance, with its branches in Delhi, Bangalore, Chennai, Pune and Hyderabad.

The USP of TAB Capital lies in its unconventional approach towards quicker and hassle-free funding. Instead of relying on security or financial ratios, TAB Capital utilizes customer profiling, cash-flows, business model, social behaviour and personal discussions with promoter for credit appraisal. Its loan size ranges from Rs.2 lakh to Rs. 1 crore, with the average loan size being around Rs. 10 lakhs.

To better serve the MSMEs, TAB Capital currently provides loan products like Equipment/Machinery Loan, Multi-purpose Business Loan, Merchant Cash Advance against POS Machine Transactions, Working Capital Demand Loan and Loan Against Property (Industrial/Residential/Commercial).

The company is focused at creating an extensive product portfolio, well-supported by a capital base and growing its presence across digital mediums & multiple geographies. Aiming to include 10 new branches and double its employee strength in the coming few months, the company is looking to raise equity of Rs. 100-150 Crore over the next 2 years for strengthening its data science capabilities and enhancing its technology platform.

TAB Capital was recognized as the “Emerging Tech Savvy NBFC” at the MSME Banking Excellence Awards instituted by CIMSME. Following the same, TAB Capital emerged as the “Best Start-Up Profit Making NBFC” at the hands of Suresh Prabhu, the Hon’ble Railways minister of India. Recently, the company was awarded the ‘Fastest Growing Digital Lending NBFC of India’ at Digital India Summit 2017 at the hands of Ravi Shankar Prasad, Hon’ble Minister for Information Technology.