Key Points
- Narayanan Easwaran resigned as Manappuram Finance Group CTO citing health issues from travel
- Three-month notice period ended on 7 November with no successor announced
- Easwaran offered to brief replacement and remain available for queries post-departure
Manappuram Finance group chief technology officer Narayanan Easwaran has resigned from his position, citing health issues arising from extensive travel requirements for the role, according to a stock exchange filing made by the company on Saturday (7 November).
Easwaran submitted his resignation on 7 August 2026 and completed his three-month notice period on 7 November, the company disclosed in filings to the BSE and National Stock Exchange. The Kerala-based non-banking financial company did not name a successor or announce interim arrangements for the group CTO position.
In his resignation letter addressed to Manappuram Finance chairman V P Nandakumar, Easwaran said the decision followed careful consideration and discussions during recent meetings.
“Due to geographical constraints, the excessive travel required for the role and consequent health issues arising from the same, I am unable to continue performing at the level this position requires,” Easwaran said in the letter, a copy of which was attached to the regulatory disclosure.
Manappuram Finance Group CTO transition
Easwaran outlined handover plans for his notice period, stating he would transfer ongoing technology initiatives, architecture decisions and roadmap priorities to the respective chief technology officers across the Manappuram Group. He also offered to brief his replacement as part of the transition process.
“I am deeply grateful for the opportunity to lead the technology function and work with such an exceptional team. I am committed to ensuring a smooth transition,” he said, adding that he would remain available for queries after his departure.
The company classified Easwaran as senior management personnel in its filing, submitted under Regulation 30 of the Securities and Exchange Board of India’s (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015. This regulation mandates listed companies to disclose material events, including resignations of key managerial personnel, within specified timeframes.
The filing, signed by company secretary Aparna Menon, stated Easwaran had resigned due to personal reasons.
Easwaran was appointed Group CTO on March 30, 2026, as part of Manappuram Finance’s efforts to strengthen its technology leadership and accelerate digital transformation.
At the time of his appointment, the company said he would be responsible for building scalable, secure and future-ready technology platforms to support business growth and customer trust.
With more than 25 years of experience in banking technology and IT strategy, Easwaran previously held senior technology positions at Equitas Small Finance Bank, IDFC FIRST Bank, ICICI Bank and Kotak Mahindra Bank.
His departure comes during a period of organisational changes at Manappuram Finance following US-based private equity firm Bain Capital’s investment and acquisition of joint control alongside the company’s existing promoters.
In March 2025, Bain Capital agreed to invest approximately Rs 4,385 crore in Manappuram Finance as part of a transaction aimed at strengthening management capabilities, operational efficiency and the company’s financial services business.
The transaction subsequently received regulatory approvals, including clearance from the Reserve Bank of India in February 2026 for Bain Capital to acquire joint control of the company.
Manappuram Finance operates primarily in gold-backed lending, with the group’s technology function overseeing digital platforms and infrastructure across its financial services businesses. The company has expanded its digital lending capabilities in recent years as competition in the gold loan segment has intensified.
NBFCs, which are regulated by the Reserve Bank of India, have been under pressure to strengthen their technology governance frameworks following regulatory guidance issued in 2021 on information technology governance and cybersecurity controls. The departure of a group-level technology head at a major NBFC would typically necessitate swift succession planning to maintain continuity in digital operations and regulatory compliance.
Gold loan NBFCs, including Manappuram Finance and its competitor Muthoot Finance, have invested significantly in mobile applications and digital disbursement platforms to reduce branch dependency and improve customer acquisition costs. Technology leadership at these organisations is responsible for managing core banking systems, digital lending platforms, cybersecurity infrastructure and data analytics capabilities.
Your Questions, Answered
Why did Narayanan Easwaran resign from Manappuram Finance?
Easwaran cited geographical constraints, excessive travel required for the group CTO role and consequent health issues as reasons for his resignation.
When did Easwaran's resignation become effective?
Easwaran submitted his resignation on 7 August 2026 and his departure became effective on 7 November 2026 after completing his three-month notice period.
Who will replace Easwaran as Manappuram Finance Group CTO?
The company has not named a successor or announced interim arrangements for the group CTO position in its stock exchange filing.
What is Manappuram Finance's primary business?
Manappuram Finance is a Kerala-based non-banking financial company primarily engaged in gold-backed lending and other financial services.
