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Samir Shah, Managing Director & CEO, NCDEX, has been appointed as Executive Vice-Chairman of Dvara Trust (formerly IFMR Trust), a private trust that develops diverse innovative financial services businesses. Shah’s tenure with NCDEX will end on February 20.
He was appointed as NCDEX MD and CEO in 2013 for three years. His term was extended for one year till August 2017 and then again for six months till February 2018.
The exchange has already zeroed in on Vijay Kumar, a former chief business officer at NCDEX, to replace Shah. NCDEX has convened an extraordinary general meeting on December 15 to ratify the appointment.
Shah said “I am looking forward to being part of the Dvara Trust as this group has been the pioneer of financial inclusion in India and will see many more opportunities to grow.”
Set up in 2008, the trust has promoted IFMR Rural Channels, IFMR Capital and IFMR Rural Finance in addition to its work on policy research. Collectively, these companies serve over 25 million customers and partner with about 130 NBFCs.
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