Mahindra & Mahindra Financial Services Appoints Alka Srivastava as Head of Underwriting

M&M Financial Services has announced a significant change in its senior management team. Ms. Alka Srivastava, currently serving as the Business Head for CVCE (Commercial Vehicle, Construction Equipment), will transition to the role of Head-Underwriting effective October 15, 2025.

New Appointment Details

Position	Appointee	Effective Date
Head-Underwriting	Ms. Alka Srivastava	October 15, 2025

Professional Background

Ms. Srivastava brings a wealth of experience to her new role:

Education: Master of Finance and Control from Lucknow University
Total Experience: 24 years in Banking and Financial Services
Previous Roles:
- HDFC Bank (10 years)
- Axis Bank (7 years)
- CitiFinancial (3 years)
Expertise: Underwriting and risk management across retail loans, including car loans, commercial vehicle loans, two-wheelers, and personal loans

Career at M&M Financial Services

Duration	Position
Last 3 years	Associated with M&M Financial Services
Past 1 year	Business Head for CVCE
Prior Role	Head Underwriting and Policy for Vehicle Loans

This strategic move highlights M&M Financial Services' commitment to strengthening its underwriting capabilities. Ms. Srivastava's extensive experience in risk management and underwriting across various loan products positions her well to lead the company's underwriting division.

The appointment, as disclosed in the company's regulatory filing, is part of M&M Financial Services' ongoing efforts to enhance its senior management team. This change comes at a time when the financial services sector is navigating through dynamic market conditions, emphasizing the importance of robust underwriting practices.

As Ms. Srivastava transitions from her current role as Business Head for CVCE to Head-Underwriting, her diverse experience in both business operations and risk management is expected to influence M&M Financial Services' underwriting strategies and overall risk posture in the coming years.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.19%	+4.25%	+5.30%	+10.56%	+3.94%	+140.19%

M&M Financial Services has reported robust growth in its financial performance for the second quarter, according to the company's latest update.

Disbursement Growth

The company disclosed an estimated disbursement of approximately ₹13,500 crore for Q2, marking a 3% year-on-year growth. This increase in disbursements reflects M&M Financial's continued momentum in its lending activities despite challenging market conditions.

Business Assets Expansion

The non-banking financial company (NBFC) has seen a significant expansion in its business assets. As of September, M&M Financial's business assets stood at approximately ₹1,26,800 crore, representing a substantial growth of about 13% compared to the same period in the previous year.

Half-Yearly Performance

For the first half of the fiscal year (H1), M&M Financial reported total disbursements of approximately ₹26,300 crore, achieving a 2% year-on-year growth. It's worth noting that this figure excludes finance lease disbursements.

Asset Quality

The company provided insights into its asset quality metrics:

Metric	September 30	June 30	September 30 (Previous Year)
Stage 3 assets	3.9% - 4.0%	3.8%	3.8%
Stage 2 assets	5.75% - 5.85%	5.9%	6.4%

Collection Efficiency

M&M Financial maintained a steady collection efficiency (CE) of 96% for Q2, which is consistent with the CE reported in the same quarter of the previous year.

Liquidity Position

The company continues to maintain a strong liquidity position, with a liquidity chest exceeding ₹8,500 crore on its balance sheet. This robust liquidity buffer provides M&M Financial with financial flexibility and stability in the current economic environment.

The latest financial update from M&M Financial demonstrates the company's resilience and growth in key areas of its business, including disbursements and asset quality management, while maintaining a strong liquidity position.