Manish Khera
| Manish Khera | |
|---|---|
| Image of Manish KheraManish Khera image.jpg | |
| Born | |
| 🏳️ Nationality | Indian |
| 🏫 Education | University of Delhi Delhi Technological University University of Cambridge |
| 💼 Occupation | Banker |
| 📆 Years active | 1993–present |
Manish Khera is an Indian banker and entrepreneur. He worked at ICICI Bank from 1993 to 2005 before founding FINO Pay-tech in 2006.[1][2]
Khera invested in YTS Solutions,[3] a company providing financial services for individuals without access to formal banking in India. In 2014, he applied to the Reserve Bank of India (RBI) for a small finance bank license.[4] In 2015, he was appointed CEO of Airtel Money Services Limited, which was later renamed Airtel Money.[5]
In 2011, Khera was named a Young Global Leader by the The World Economic Forum.[6]
Khera is the founder and Chief Executive Officer of the Financial Inclusion Network and Operations (FINO) Pay-tech.[7] The The World Economic Forum awarded FINO a Technology Pioneer Award in 2011.[8]
Education
Khera holds a degree in Electrical Engineer from Delhi College of Engineering (now the Delhi Technological University), a Master's Degree in Business Administration (Finance) from the Faculty of Management Studies, University of Delhi, and an M.Phil. in Environment and Development from the University of Cambridge in the U.K..[9] He was also a scholar of the Department for International Development (DFID) at the University of Delhi.[10]
Career
Years with ICICI Bank (1993–2006)
In 2004, after gaining experience in corporate and structured lending, transaction banking, and banking technology, Manish established the Alternate Channels Group (ACG) within ICICI Bank to provide banking services to those underserved in India. The objective of ACG was to find unconventional channels to offer banking services to those categorized as (below poverty line population).[citation needed]
During this period, he also collaborated with the RBI (RBI) and Khan Committee to develop the Business Correspondent guidelines, which provided recommendations for this financial inclusion initiative in India.[11]
At the Alternate Channels Group, Khera designed a system that utilized biometric, paperless technology, and minimal physical infrastructure to reach the unserved and underbanked population in India. This work contributed to the foundation for Financial Information Network and Operations Ltd. (FINO), later renamed FINO Paytech.[citation needed]
Years with FINO Paytech Limited (2005–2013)
FINO Paytech Ltd. was founded in 2006 by Manish Khera, who served as Chief Executive Officer and Managing Director.[7]
In 2006, Khera combined low-cost innovation, customer suitability, existing infrastructure conditions in India, and the RBI's policy allowing Business Correspondents to deliver banking services to the micro-segment (below poverty line population) while aiming for business profitability. Under his leadership, FINO grew to service over 70 million customers across more than 50,000 Business Correspondent points. FINO is now FINO Payments Bank.[citation needed]
Khera left FINO in 2013.[7]
Years with YTS – Yatra Tatra Sarvatra and Acquisition by Bharti Airtel (2014–2015)
In 2014, Manish Khera invested in Yatra Tatra Sarvatra (YTS), a financial services company focused on mobile banking solutions. YTS provided a platform for customers to remit money instantly across India at a low cost and conduct banking transactions using basic mobile phones.[5]
In 2015, Bharti Airtel acquired YTS as part of its expansion into the digital payments sector. Following the acquisition, Manish Khera was appointed CEO of Airtel Money, Airtel’s digital payments arm.[5][12][13]
Manish Khera applied for a Small Finance Bank license under RBI guidelines along with 72 other applicants,[14] though his application was unsuccessful.[15]
Years with Happy and ArthImpact (2017 - Present)
After his tenure at Airtel Money, Manish Khera founded ArthImpact in December 2016. This platform was designed to provide digital financial services to underserved communities, focusing on offering microloans and financial products to small businesses, particularly in rural areas.[16]
In 2017, Khera also established Happy, a digital lending platform focused on providing microloans to small businesses. The platform utilized artificial intelligence and data analytics for credit assessment. Happy aimed to improve access to credit for underserved segments through technology-driven lending. Khera’s experience in digital banking contributed to the platform’s approach to alternative credit assessment.[17][18]
Khera's work through ArthImpact and Happy aimed to address the gap in financial services for individuals and businesses excluded from traditional banking systems.
Awards and recognition
Khera has been cited as a figure in the financial inclusion and micro-finance sector in India.[19]
He was named a "Young Global Leader of 2011" by the World Economic Forum.[20]
Khera was also recognized by E&Y as the "Entrepreneur of the Year 2011"[21] and was awarded the Forbes India Leadership Award 2012 for "Outstanding Start-Up".[22][12]
References
- ↑ "Manish Khera World Economic Forum". World Economic Forum. 29 May 2025. Retrieved 29 May 2025.
- ↑ "FINO's branchless banking and financial inclusion products delivered via agent network". www.techsangam.com. Retrieved 2024-11-26.
Date of founding of FINO
- ↑ "YTS Solutions".[permanent dead link] [verification needed]
- ↑ Parmar, Beena (16 September 2015). "RBI grants 10 small finance bank licences". @businessline. Retrieved 2019-07-01.
- ↑ 5.0 5.1 5.2 "Bharti Airtel to buy digital payments enabler YTS; names Manish Khera as Airtel Money CEO". Techcircle. 2015-08-03. Retrieved 2024-11-26.
- ↑ Announcement (2011-03-10). "Manish Khera, CEO of FINO, selected as Young Global Leader 2011 by WEF". Business Standard India. Retrieved 2017-07-05.
- ↑ 7.0 7.1 7.2 "FINO PayTech: The People's Bank". Forbes India. Retrieved 2025-03-16.
- ↑ "Manish Khera". World Economic Forum. Archived from the original on 8 December 2022. Retrieved 2025-03-20. Unknown parameter
|url-status=ignored (help) - ↑ Mehta, Sangita (2011-07-20). "Manish Khera: The success stories of business". The Economic Times. ISSN 0013-0389. Retrieved 2025-05-14.
- ↑ "FINO Payments Bank: A Vision for Prosperity". Retrieved 4 June 2025.
- ↑ Reporters, BS (24 February 2015). "Meet the Small Finance Bank and Payments Banks' aspirants". Business Standard. [verification needed]
- ↑ 12.0 12.1 Bureau, Adgully (2015-08-04). "Manish Khera to be appointed as CEO - Airtel Money". www.adgully.com. Retrieved 2025-03-16.
- ↑ "Bharti Airtel Names Manish Khera As CEO Of Airtel Money". BW Businessworld. Retrieved 2025-03-16.
- ↑ Ray, Atmadip; Sinha, Shilpy (2015-04-29). "Small finance banks: Who will be the lucky ones as firms like AU Financier and FINO await licenses". The Economic Times. ISSN 0013-0389. Retrieved 2025-04-10.
- ↑ "Financials: RBI grants licenses to new niche category of banks "Small finance banks"– Detailed Report". www.motilaloswal.com. Retrieved 2025-04-10.
- ↑ "Manish Khera begins new entrepreneurial venture for digital lending". BusinessLine. 2016-12-05. Retrieved 2025-03-16.
- ↑ "Mr Manish Khera, Founder & MD, Happy- A Neo Fintech Platform". Suger Mint. 2023-03-22. Retrieved 2025-03-16.
- ↑ Release, ANI Press. "Fintech lender HAPPY bootstraps its way to facilitate wealth creation of INR 1800 crores for the 'Credit Invisible' Micro-MSMEs in India". Archived from the original on 29 September 2021. Retrieved 2025-03-16. Unknown parameter
|url-status=ignored (help) - ↑ "Forbes India Awards FINO Start-Up of the Year". 12 October 2012.
- ↑ "World Economic Forum".
- ↑ "Entrepreneur Of The Year 2011". EY Building Better Working World.
- ↑ Raghunath, Abhishek (9 Oct 2012). "Taking Banks to India's Poor".
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