U GRO Capital, a small business lending firm has appointed Navin Puri, a financial services veteran as an Independent Director on its Board of Directors. 

The BSE listed company has roped in the former Country Head of Branch Banking at HDFC Bank and has more than 30 years of experience in the financial services sector. Puri has previously worked in HDFC Bank and ANZ Grindlays Bank. With an MBA from Texas University and B.Com from St. Xavier’s College, Calcutta, Puri is also a member of the Institute of Chartered Accountants, India. 

“One of the founding pillars of U GRO is board-driven corporate governance--a core tenet of which is strong Independent Directors,” said Shachindra Nath, Chairman, and Managing Director, U GRO. “Puri is a highly respected figure who will not only add great value to us in this aspect but also through his strategic insights resulting from a long and successful career in the Indian financial sector.”

Other directors on the independent board include Satyananda Mishra, the former Chief Information Commissioner of India, NK Maini, the former Deputy Managing Director of SIDBI, Rajeev Agarwal, former member of SEBI, Abhijit Sen, the former CEO of Citi India, Ranjana Agarwal, a partner at Vaish & Associates and S. Karuppasamy, the former Executive Director of the RBI. 

U GRO aims to find answers to the challenges faced by small businesses in securing loans and credit. With the addition of Puri in the board of directors, the company hopes to garner insights from an experienced and versatile banker in order to understand the ways in which India’s small businesses can secure a healthy line of credit.