Veritas Finance Ltd, a retail-focused non-banking financial company primarily providing small business loans to micro, small and medium enterprises (MSMEs), has appointed Mathew Joseph, an existing non-executive independent director of the company, as the non-executive chairman of its board of directors, with effect from Thursday.
Joseph is a member of the Institute of Chartered Accountants of India and has over 36 years of experience in the financial industry. Prior to joining the company, he was associated with HDFC Ltd as a member of its executive management and chief risk officer.
He joined the board of Veritas Finance as a non-executive independent director on November 24, 2023.
In his new role as non-executive chairman, Joseph will provide strategic guidance to the board and support the company’s continued focus on sound governance, responsible growth and serving the evolving financial needs of MSMEs.
The appointment follows the sad and untimely demise of Raj Vikash Verma, the company’s erstwhile chairperson and non-executive independent director, on October 16. The company places on record its deep appreciation for Verma’s invaluable guidance and contribution to the board and the organisation.
D. Arulmany, managing director and chief executive officer of Veritas Finance Ltd, said, “We are pleased to welcome Mr. Joseph as the Non-Executive Chairman of our Board. His extensive experience in the financial services industry, deep understanding of risk management and regulatory frameworks, and existing association with Veritas as a Non-Executive Independent Director will be invaluable as we continue to build on the Company’s strong foundations.”
“We also remember with deep respect and gratitude our late Chairman, Mr. Raj Vikash Verma, whose guidance and contributions have been an integral part of our journey. As we move forward, we remain committed to upholding the values he championed and to pursuing our mission of providing accessible and responsible financial solutions to India’s MSME sector.”
