Avijit Kishore is a rural lending professional having a rich experience in wholesale & retail microfinance, agri, BC intiatives and payments. He is currently Associate SVP & Head of SME Business Enterprises, Institutional Lending, Co-lending & Partnerships at Mahindra Finance. He is a seasoned BFSI professional with experience across multiple asset classes viz. Microfinance, LAP, NBFC/HFC Lending, Agri/MSME Lending & Financial Inclusion
Linkedin : https://www.linkedin.com/in/avijit-kishore-8206066
FB: https://www.facebook.com/avijit.kishore/
Q. How has your journey from IIFM been so far?
A. My journey from IIFM has been profoundly rewarding and fulfilling. IIFM laid a strong foundation for my career in the financial services sector and I’ve had the opportunity to work in various roles and organizations, each contributing to my growth and learning.
I got placed in SKS Microfinance as Area Manager and got the opportunity to understand the needs/challenges of microfinance clients & build business with social impact. I consider the initial 2 months on-job training structured by SKS as the best in the industry wherein we had to work one week each as Field Officer, Cashier, Branch Manager, Unit Manager followed by 1 month as Area Manager. This training has helped me immensely in my career as it gave an opportunity to understand the challenges faced at each level of hierarchy.
After SKS, I joined Axis Bank in MFI lending team at their Corporate Office and got the opportunity to look at various MFIs and lending models across the country which broadened my horizon beyond the SKS Model. The decade long stint at Axis Bank helped me grow as a Banker learning the nuances of Banking. The most satisfying part of this stint was the opportunities provided to work across asset classes & business models in the corporate & Retail Banking space.
In my last role with Axis Bank, I was leading the NBFC Lending, Retail Microfinance & Business Correspondent based lending business. It was a unique opportunity wherein on one hand as corporate banker, we used to deal with large ticket (Upto Rs 500 crs) structured lending across products like Term Loans, Securitization & Direct Assignment and on the other hand under Retail Microfinance, handled group loans with ticket sizes as low as Rs 20k.
After Axis, I had a short stint with Jana Small Finance Bank to set up their Agri Alliance and Value Chain business. We had relocated from Mumbai to Bangalore for this role and soon realised that after spending 10 years in Mumbai, we have become a true Mumbaikar!
I returned to Mumbai after 6 months stint and joined Mahindra Finance to set up the Institutional Lending Business catering the financing needs of NBFCs, HFCs, Fintechs, etc. Subsequently, I got additional responsibility to lead the MSME lending & Co-lending/Partnership business across products like LAP, Business Loans & Machinery Loans.
Q. What were some of the key milestones/learnings in this journey that you would like to share with us?
A. At SKS, I got the opportunity to set up business from scratch in Jabalpur, Madhya Pradesh. It was quite a satisfying and enriching experience wherein I was not only involved in lending business but also had to set up entire support structure by setting up branches, recruiting manpower, opening bank account of company, buying furnitures, stationary, etc. It was a challenging task as few NBFCs had vanished from the area with people’s money and earning the trust of customers & Bankers was a mammoth task and also key to success.
The 2nd key milestone in my career was at Axis Bank post AP crisis in microfinance, wherein majority of our large customers went for Corporate Debt Restructuring and funding dried up for MFIs. It was the most challenging phase in my career. However this led to a unique opportunity of setting up retail microfinance business in a Bank. This not only required large manpower which was quite a task in a Bank but also led to a cultural shift from doing business in banking hours to conduct early morning center meetings! I got the opportunity to conceptualise, build & lead the retail microfinance business (Axis Sahyog).
Q. What is the most satisfying part of your career?
A. The most satisfying aspect of my career has been the ability to make a meaningful impact on the financial inclusion landscape in India. Knowing that my work has helped individuals and businesses access credit and achieve their financial goals is immensely gratifying.
Q. Has your learning at IIFM helped in shaping how you approach your professional roles?
A. Absolutely, my time at IIFM instilled in me a strong sense of discipline and the ability to adapt to diverse situations. These skills have been invaluable in approaching my professional roles with confidence and competence. The two OTs (now called SI & Project Work)gave the opportunity of hands-on practical experience in a professional setting along with networking opportunities. During my 2nd OT at ICICI Bank Head Office, I got the opportunity to interact with various bankers and I am still in touch with them either as a friend, lender or colleague.
Q. Who 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?
A. The biggest influences in my career have been my colleagues and mentors who have guided me throughout my journey.
My advice to freshers interested in similar sectors/roles is to build strong professional network, stay curious, be open to learning, embrace change & be adaptable to evolving/changing situations.
Q. What are your favorite memories during your IIFM days?
A. There are quite a few unforgettable moments at IIFM, which still brings a smile on my face. Those moments of camaraderie and relaxation were truly special.
- Various GBMs which used to happen actively for brain storming and discussions in the batch
- Hanging out with friends at Sakshi Dhaba
- Playing Badminton at midnight
- Treking at Ranthambore National Park during Field Trip to sight a tiger along with my room mate and a forest guard
- Psychometric Test conducted by Prof B R Mehta at his residence!
Q. In hindsight, what was the biggest contribution or takeaway from IIFM that you think played a critical role in shaping you as an individual or professional?
A. In hindsight, the most significant contribution from IIFM was the overall holistic growth it provided to all of us. This included guidance from experienced faculties like Dr C S Rathore, Prof P K Biswas, Prof Amitabh Pandey and the close-knit community of friends and alumni who continue to offer support and inspiration.
Q. The best buddies / seniors / faculty at IIFM? Some memorable tidbits that you like to share?
A. My best buddies at IIFM, including Alok Kashyap, Rahul Singh, Mukul Kumar, Pushkar Parashar, and Mandar Samvatsar, were an integral part of my journey. We have a ‘backbenchers’ group and have remained closely connected to this day.
Q. As an alumni, what’s your advice to freshers or those are joining IIFM to get the best out of the two years there?
A. To get the best out of their two years at IIFM, I would advise freshers to stay curious and actively engage in both academic & extracurricular activities. They should try to build a strong professional network early on by connecting with alumni, faculty & peers, as relationships would be valuable throughout their career. Professional life will always have testing times and hence one should learn to embrace challenges/setbacks. Learning from failures is a crucial aspect of personal and professional growth.
Q. What was your typical day at work? And how does it look like while you are on a break?
A. A typical day at work involves a mix of meetings, strategic planning, team management, budget oversight and reviews. During breaks, I like to catch up on industry news and trends to stay informed.
Q. And how about weekends, hobbies, family, and anything else you want to add?
A. On weekends, I enjoy spending time with my family, pursuing hobbies like reading, watching series on OTT or going on long drives. After coming to Mumbai, I realised the importance of right work life balance and hence I try to take occasional breaks/vacations to refresh & restart.
& Vivaan(son)
Q. Favorite Books, movies, authors?
A. Some of my favourite books include “The Innovator’s Dilemma” by Clayton Christensen. It explores the challenges faced by established companies in adapting to new technologies & disruptive changes. “The Alchemist” by Paulo Coelho is an amazing book on destiny & self-discovery. As for movies, I consider myself a dedicated Bollywood movie buff :).
Q. IIFM is driven by alumni’s passion and commitments towards its goal. How would you like to contribute to IIFM or IIFM alumni, students? Your engagement with IIFM Placement or OT/SI?
A. I was fortunate in the initial 10 years after IIFM wherein I visited our wonderful campus almost every year for campus placements. However, in the last few years, I have not been able to participate in campus placements.
I would be delighted to contribute to IIFM and its alumni in any way possible, whether through mentoring, sharing industry insights, or participating in placement activities.
Q. What do you think is different at IIFM now vs. when you studied there?
A. The biggest change from our time is the increase in number of students and the change in curriculum basis the two different courses which is being offered now.
The alumni connect has also been improving very well every year.
Q. Any suggestions on who you want to get profiled/interviewed here?
A. I would suggest profiling my IIFM room mate, Alok Kashyap and my first boss at SKS- Animesh Anand. Their insights and experiences can be inspiring for current and future IIFM students.