In a regulatory filing, the company stated that Anand stepped down due to personal reasons.
Following his resignation, and based on the recommendations of the nomination & remuneration committee and the risk management committee, the board has approved the appointment of G. Parthasarathy as the new chief risk officer (CRO) for a three-year term, effective from 16 October 2025 to 15 October 2028. The appointment is in line with the Reserve Bank of India’s Master Direction for Non-Banking Financial Company – Scale Based Regulation, 2023.
Parthasarathy brings over 26 years of experience in financial services, with expertise across risk management, internal audit, legal, credit and policy, collections, operations, and sales. Prior to this, he served as CRO at Belstar Microfinance, where he led nationwide functions across risk, legal, internal audit, and compliance, managing a team of over 300 professionals.
He has previously held leadership roles at Madura Microfinance, BEBB India, Muthoot Fincorp, HDFC Bank, and GE Money, contributing to the development of risk frameworks in collaboration with global consultancies like KPMG.
Parthasarathy holds degrees in Law (LL.B.), Marketing (MBA), and Mathematics (B.Sc.), and is pursuing a Financial Risk Manager (FRM) certification. He also holds certifications in Six Sigma (White Belt) and IRDA, and has received multiple awards and scholarships for his contributions to the financial services sector.
The company clarified that G. Parthasarathy is not related to any director on the board of the company.
Spandana Sphoorty Financial is primarily engaged in the business of microfinance, providing small-value unsecured loans to low-income customers in semi-urban and rural areas.
The company’s consolidated net profit jumped 44.6% to Rs 202.48 crore on 13.3% rise in revenue from operations to Rs 2,098.97 crore in Q1 FY26 over Q1 FY25.