The appointment was made based on the recommendation of the nomination and remuneration committee.
Avinash Yadav is a seasoned technology leader with expertise in leading high impact technology projects, AI/ML models, technical operations and IT governance. He brings a unique blend of expertise (NBFC, HFC, FinTech’s) and a track record of success in driving IT operations, high-impact technology and digital transformation programs to enable greater customer experience, business growth and operational efficiency.
He has been recognised among the Top 50 Tech Leaders in NBFCs by ET Edge and was awarded Best CTO/CIO of the Year 2025 by UBS Forums. Prior to joining Spandana Sphoorty Financial, he was associated with IIFL Samasta Finance. The company also clarified that Yadav is not related to any director on the board.
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 reported a consolidated net loss of Rs 94.97 crore in Q3 FY26 as against net loss of Rs 440.20 crore in Q3 FY25. Total income slipped 56.9% year on year to Rs 245.55 crore in Q3 FY26 over Q3 FY25.