Over the past two decades, financial leaders have come to play an increasingly important role. An ever-complex international business world, coupled with constantly changing legislation has heightened the importance of strong financial leaders, one such leader Mr. Yogen Khosla, MD of Capital Trust, is a commerce graduate from Loyola College, Chennai. He introduced the company into retail lending of Micro loans in rural and semi urban areas in 2008. He has led the company to being adjudged as one of the top 100 Small and Medium Enterprises in India by India SME Forum in 2017.
A large part of the rural economy is not serviced by the financial sector as of now. Yogen’s goal is to provide doorstep financing options in a transparent and efficient manner to this class of entrepreneurs. Also, incorporate state of the art technological solutions to reduce the cost of delivery and customer satisfaction.
Enabling Micro and Small Enterprises to Invest Bigger
Capital Trust is a listed Non-Banking Finance Company (NBFC) which provides Enterprise Loans to Micro and Small Enterprises to those who do not qualify to get a loan from a bank. The company has provided affordable loans to over 5 Lakh Clients through its 180 branches. The company provides loans ranging from Rs. 15000 to Rs. 10 Lakhs in rural and semi-rural areas.
Dealing Smoothly with the Challenges
Yogen describes his routine as: majority of his time is spent outlining the vision of the company, experimenting with new products and figuring out where Capital Trust can create competitive advantage for themselves. As for the day-to-day challenges, a very capable senior management layer is in place that is given the liberty to deal efficiently and effectively with operational challenges.
Empowering the Rural India
According to Yogen, he derives much strength from the fact that each loan disbursed by the company empowers the lives of families in rural India that have been marginalized from the banking sector. It is also encouraging to know that current governmental initiatives such as financial inclusion, Make in India and women empowerment echo with Capital Trust’s principles.
Focus on the ‘Missing Middle’, Differentiates Capital Trust
What differentiates Capital Trust is their focus on the ‘Missing Middle’ – the economic segment that is excluded from the formal banking system as well the growing microfinance industry. Their diverse product offerings in the MSME market help them acquire customers that have outgrown the microfinance ticket size but remain un-served by large NBFC’s and banks.
In addition, the company keeps innovative IT services at its core. The Company has cutting edge technology to keep operations efficient and at low cost. For example, onboarding of all clients is Capital Trust’s mobile application and in-principal approval is granted to clients at ground level within seconds of applying for the loan.
Cognizance of Motive Directs a Company Ahead
A company needs to build its foundations on its customers, keeping an eye on industry standards and regulators. With targets of different time intervals, a company should be very cognizant of what it is working towards.
Leaders should be Well-enlightened to the Heading Path
According to Yogen, Hunger and Passion are the hallmarks of a successful financial leader. A strong work ethic is also very important. Industry knowledge and its development are also critical elements in a leadership role. One needs to keep abreast with where things are headed, to be able to stay one step ahead.
Attaining Every Element of Expansion
Capital Trust is currently focused on de-risking their company by geographical expansion. In the last month, they have begun operations in Bihar and Orissa, and are potentially starting business soon in Chhattisgarh and Gujarat. They are also applied for the Housing Licence with NHB. With a diverse set of products being offered through a wider branches network, they are very excited to see how things play out in the near future.
Spontaneity Drives you Victory
What has driven me through my working life is the ability to take risks. In addition, willingness to accept failure and bouncing back repeatedly. Having been associated with a company that has experimented with various products and services in the industry, I have always set myself up for innovative new tasks. If there is one advice I could give to the leaders of tomorrow, it would be that you have to be courageous to be different. Innovate, experiment, fail, learn – keep the cycle going! Do not try to find a life balance if you want to be super successful!