In last 15 years Anil has acquired expertise in starting new business operation. For BFIL , he has set up Microfinance business in west, Started and scaled up Gold Loan Operation and now leading the business for RDSP.
He is also a core member of
YAN (Yatra Angel Network), which is a group of professionals who support upcoming startups in mitigating scale up challenges by providing technology and strategic help as well as helping them raise equity from the capital market.
How has been your journey from IIFM to this role?
After IIFM, I joined SKS Microfinance, one of the upcoming MFIs as Area Manager. I was given the responsibility for starting microfinance operation in Nashik from scratch. To set up a business operation from scratch in an unknown territory was an amazing experience. This experience is still closest to my heart and perhaps the best learning experience I ever had.
In the next 4 years I was heading the microfinance business for 3 states in North India. Sailed through the crisis of 2008 and MFI crisis of 2010. The year of 2008 and 2010 has been the most enriching years. The crisis teaches us the virtue of fighting back and helps us discover our strength and provides opportunity to scale to level next.
In 2011 I started Gold Loan Operations for the organization and headed the business for 2 years. By 2013 I moved to a new Role and was heading a new strategic initiative for the organization. This was the period where I learnt project Management and got my exposure to Fintech.
In 2018 As a part of a new initiative I started setting up a Sub- BC network to promote Cashless transactions among microfinance customers. This concept got enriched as we progressed and it got developed into a new business vertical with potential to cater to villages as a whole whereas microfinance is limited to joint liability groups or SHGs.
In 2019 with a group of friends started YAN (Yatra Angel network) an initiative to meet startups and catalyze their growth story.
What were some of the key milestones/learning in this journey that you would like to share with us?
a. Setting up Microfinance business operations from scratch in an unknown territory
b. Successfully leading the team through 2 of the worst crises in the Industry.
c. Setting up BC- Network operations without any prior experience with profitability
d. Helping 4 start ups in the last one year in raising equity in such a difficult time in the capital market.
What is the most satisfying part of your current role?
The challenge of setting up a BC- Network with profitability is something that keeps me on my toes. Lot of people have set up the network but having a profitability to attract the equity market with last mile reach is yet to be done. Curiosity of discovering new business models and jugaad of intermixing a lot of available concepts to execution for desired result gives me a high for sure.
There are many small success stories of rural entrepreneurs located in remote villages whose socioeconomic status has changed after working with us. These stories give me confidence that I am working in the right direction.
Has your learning at IIFM helped in shaping how you approach your professional roles?
The days spent at IIFM have been the most important days for me. Prior to IIFM I had done my Physics (H) from Kirori Mal College , Delhi. I was respected for my academic excellence in my graduation days. Here at IIFM I was no one and had to start again. Apart from QT (Quantitative Techniques), there was hardly any subject I could connect with initially.
The best part of IIFM is the diversity here. It accepts everyone equally and allows you to learn new aspects without any disadvantages. You can choose any stream irrespective of who you are and do better than people with a background.
Fieldwork and Internships taught me how to approach the real world. The interactions with seniors and Industry experts during Internship helped me in gearing up for professional challenges.
Who (or what) are the biggest influences or drivers in your careers? What would be your advice to freshers and IIFM graduates who are looking to choose similar sectors/roles.
Prof. P K Biswas , R K Singh, Amitabh Pandey and CVRS were the biggest influencers for me at IIFM. They advised me to join SKS and told me that nothing can replace Field experience.
During my OT -1, our Alumni Mr. Ashish Mishra has been a big influence. The first corporate presentation of mine was a big failure. He taught me how to get back and write off one bad day.
Kalpana Kashyap (from PFM 2006-08) has been another big influence in my career. She helped me in understanding the opposite perspective of any situation. We got married in 2011. She has been my best friend and pillar of strength. Whenever we start talking about IIFM, we lose track of time even today. Our bond with IIFM is one of the rare commonalities between us.
As a corporate leader the biggest inspiration has been MR M R Rao the ex- CEO of SKS Microfinance Ltd. His biggest mantra has been “ If the idea is right go for it, The cost and other factors will automatically fall in place.” I have seen him taking such calls for which any CFOs will not advise and turning it into a master stroke. He has an uncanny knack of turning crisis into opportunity
For all the freshers I would say that you should focus on learning new things. Though there are different functions and departments, there is hardly anything that you can’t do. Don’t get carried away or scared of typical jargons. They are good for a short term speech, but the concepts in simple words matter the most. Most of the Bank CEOs I have interacted with love simple concepts.
For students at IIFM , please give your best in your internship. Work on your number skills, Also try to develop the habit of reading. The books might sound obsolete or the concepts that you might study may not be applicable in your daily professional activity but the time spent with these books will pay you back. The attitude that you acquire will help you grow in the sector. IIFM is the best place to develop yourself as an individual. There is a great library and avenues to help you pursue your dreams.
What are your favorite memories during your IIFM days?
I had spent a lot of time at Volleyball court. Everyday in the evening our group used to be there for our friendly match. I remember the marathon GBM that was held just before our field trip. These GBMs are a great training ground for typical corporate meetings.
The first football match that we had with our seniors on 15th August. At half time we were tied with a score of 1-1. In the break we all were excited and as usual went for our fag break. When the match resumed, no one was in a position to run on the ground and we lost the match 5-1. Our seniors gave us IIFM style treat on their victory and the everlasting bonding between us started.
In hindsight, what was the biggest contribution (courses, faculty, library, friends, alumni.. Anything else!!) or take away from IIFM that you think played a critical role in shaping you as an individual or professional?
I believe IIFM has a unique course structure which gives equal opportunity to all to excel. The famous saying that I learnt here is “ It’s not a Rocket Science” I can do it. This confidence that you can do good in all streams without any prior background helps in shaping up the right attitude. I started with a role in business , then moved into a project management role , then in strategy and after that in a project execution role and now working as business head. All these roles were completely different from each other and required completely different skill sets.
But yes they were still not as diverse as Forest Policy and Financial Management. So if you are able to manage your subjects and assignments well you can manage stream change in your job too.
The best buddies / seniors /faculty at IIFM? Some memorable tidbits that you like to share?
My best pals at IIFM were my roommate Anup Singh, Santosh Singh, Rahul Singh, Avijith Kishore, Rohit Toppo & Jaspal Shakya . Me and Rohit have very fond memories of riding on his YAMAHA RX 100 in the by lanes of Bhopal. I was also close to Animesh Anand, Vineet Abhishek, Vishwanath Divya from the PFM-05 batch.
As an alumni, what’s your advice to freshers or those are joining IIFM to get best out of the 2 years there?
These 2 years are going to be the best years for you. Try to learn, wander, explore and enjoy as much as you can. The experience learning from this place and attitude that you carry after this are going to fuel your journey after IIFM.
What is your typical day at the office? (We want to know what your day job looks like..)
My day starts with number crunching and review with my team. Then later part of the day is spent on planning , meeting stakeholders for coordinating pending Items, interacting with the field team and customers.
And how about weekends.. Hobbies.. Family..
My weekends are spent largely with my family. I also do a lot of interactions with startups on weekends as part of our YAN initiative. The energy , enthusiasm, positivity , and diversity of the new age start ups gives a new high.
IIFM is driven by alumni’s passion and commitments towards its goal. How would you like to contribute to IIFM or IIFM alumni, students?
I would love to help any IIFMight planning for having a startup in the fintech or Financial Industry domain and looking for scale up. I would also love to contribute in placements.
What do you think is different at IIFM now vs when you studied there? What do you think is a positive change and what is not?
One of the positive changes is that many new courses have been floated. Also the industry interface has
improved quite a lot from my time.
I feel we should go back to the concept of 2 OTs and 1 Field trip. The biggest difference between us and others used to be the time spent in the field by us as compared to other sectoral schools.
Any suggestions on who you want to get profiled/interviewed here?
I will suggest for Rohit Toppo from PFM -06 and Animesh Anand and
Vishwanth Divya from PFM 05 batch
