Capital Small Finance Bank Limited has announced significant appointments to strengthen its governance and management structure, effective April 29, 2026.

Statutory Auditor Appointment

The bank has appointed GSA & Associates LLP as its new statutory auditors for a term of three years, commencing from the ensuing 27th Annual General Meeting. GSA & Associates LLP is a leading audit and consultancy firm empanelled with C&AG, RBI, and IBA.

The firm's senior-most partner, Dr CA Amarjit Chopra, brings extensive experience as Ex-President of ICAI and has served on the boards of two public sector banks. He currently serves on the board of SBI Mutual Funds Trustees. The firm has comprehensive exposure across multiple sectors including financial and banking, insurance, energy and power, infrastructure, hospitality, oil and gas, IT and communication, media, automobiles, FMCG, textile, real estate, agricultural, mining, and aviation sectors.

Senior Management Personnel Designations

The bank has designated two key executives as Senior Management Personnel (SMP), enhancing its leadership structure.

Mr. Raghav Aggarwal - Chief Credit Officer (Branch Banking)

Mr. Raghav Aggarwal has been designated as Chief Credit Officer (Branch Banking) as SMP of the bank, effective April 29, 2026.

Mr. Aggarwal brings over 16 years of experience, including 12.5 years in the banking domain with deep specialization in credit and risk management. He previously served as Chief Risk Officer for six years and has been continuously working with the bank in different credit and risk roles since joining in 2015.

Mr. Manish Khurana - Head of Internal Audit

Mr. Manish Khurana has been designated as Head of Internal Audit as SMP of the bank, effective April 29, 2026.

Mr. Khurana has been associated with the bank since March 2012, bringing over a decade of rich experience within the organization. Since assuming charge as Head of Internal Audit in January 2022, he has been instrumental in strengthening the bank's internal audit framework by enhancing the effectiveness of internal controls, risk management processes, and governance mechanisms.

In his role, he provides independent and objective assurance on the adequacy and effectiveness of operational and financial processes while ensuring alignment with regulatory expectations. His multi-disciplinary qualifications enable him to contribute meaningfully towards reinforcing compliance standards and promoting a robust control environment across the bank.

Governance Enhancement

These appointments demonstrate the bank's commitment to strengthening its governance framework and leadership capabilities. The designation of experienced professionals as Senior Management Personnel aligns with regulatory requirements and enhances the bank's operational oversight capabilities. Both appointees disclosed no relationships with existing directors, maintaining independence in their roles.

Capital Small Finance Bank announced significant corporate governance changes through regulatory filings under Regulation 30, including the appointment of new statutory auditors and designation of key personnel as Senior Management Personnel (SMP) effective April 29, 2026.

New Statutory Auditor Appointment

The bank's Board approved the appointment of M/s GSA & Associates LLP as statutory auditors for a three-year term at the ensuing 27th Annual General Meeting. The audit firm brings extensive expertise across multiple sectors and regulatory compliance.

GSA & Associates LLP is a leading audit and consultancy firm with the mission of providing world-class financial solutions. The firm has extensive exposure across Financial & banking sector, Insurance sector, Energy and Power sector, Infrastructure sector, Hospitality Sector, Oil & Gas Sector, IT & Communication Sector, Media & other Service sectors, Automobiles & Auto Sector, FMCG Sector, Textile Sector, Real Estate Sector, Agricultural sector, Mining Sector and Aviation sector.

Senior Management Personnel Designations

The Board designated two key executives as Senior Management Personnel, strengthening the bank's leadership structure and regulatory compliance framework.

Raghav Aggarwal - Chief Credit Officer (Branch Banking)

Mr. Raghav Aggarwal has over 16 years of experience including 12.5 years of experience in banking domain with deep specialization in credit and risk management. He previously worked as Chief Risk Officer for 6 years with Capital Small Finance Bank Limited and started his journey with the Bank in 2015, continuously working in different roles both credit and risk.

Manish Khurana - Head of Internal Audit

Mr. Manish Khurana serves as Senior Vice President & Head of Internal Audit and has been associated with the Bank since March 2012, bringing over a decade of rich experience within the organization. Since assuming charge as Head of Internal Audit in January 2022, he has been instrumental in strengthening the Bank's internal audit framework by enhancing the effectiveness of internal controls, risk management processes, and governance mechanisms.

Regulatory Compliance and Governance Enhancement

These appointments demonstrate the bank's commitment to strengthening corporate governance and regulatory compliance. The designation of experienced professionals as SMPs ensures robust risk management and internal control frameworks while the new statutory auditor appointment brings fresh perspective and specialized expertise to the audit function.

Both newly designated SMPs have extensive tenure with the bank and deep understanding of its operations, ensuring continuity while enhancing the senior management structure. Their professional qualifications and experience positions them well to contribute to the bank's continued growth and regulatory adherence.

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