Corporate Crossings | SBI Card appoints Rashmi Mohanty as CFO effective October 21

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SBI Cards and Payment Services Limited (SBI Card) on October 6 informed the stock exchanges that it has appointed Rashmi Mohanty as the company's Chief Financial Officer (CFO) with effect from October 21.

Currently, Mohanty is the Group CFO and Whole Time Director of Clix Capital.

As per the information by SBI Card, Mohanty holds a Bachelor's degree in Engineering (Computer Science) and Post Graduate Diploma in Management, Finance & Marketing. She has nearly 27 years of experience in fixed income, foreign exchange and derivatives market, treasury management and corporate finance.

"Over the years, Mohanty has built funding and treasury functions of organizations at different lifecycles such as GE Capital, Religare and Vedanta," SBI Card said in a regulatory filing.

Meanwhile, shares of SBI Cards and Payment Services Limited ended 0.73 percent lower at Rs 887.25 apiece on BSE on Thursday (October 6).

Data from the Reserve Bank of India recently showed that the credit card issuer fared better than the rest of the industry with a 35 percent jump in credit spending in August. This was in stark contrast to a 45 percent fall in monthly spending across the industry.

Last month, SBI Card raised Rs 500 crore by issuing bonds on a private placement basis. The pure-play credit card issuer said it allotted 5,000 fixed rate, unsecured, taxable and redeemable bonds on Thursday, in the nature of non-convertible debentures of Rs 10 lakh each aggregating to Rs 500 crore.