Mumbai; 8^th March 2021: Arcil today announced the appointment of Mr. Pallav Mohapatra as its Chief Executive Officer & Managing Director. Mr. Mohapatra will be responsible for leading the strategic direction and growth journey of the organization.

Mr. Mohapatra brings nearly four decades of result driven experience in diverse roles throughout his career. In his prior post as Managing Director & Chief Executive Officer of Central Bank of India, he had played an instrumental role in turning around the fortunes of the Bank by addressing its stress asset portfolio in particular along with other key modernization initiatives.

Mr. Mohapatra’s has earned a proven track record through exemplary leadership in a variety of roles and assignments at the Corporate Office and field units of State Bank of India. His key assignments at State Bank of India include, VP (Credit & Forex), SBI (California), Los Angeles, USA, Managing Director, SBI Custodial Services Pvt.. Ltd., Chief Executive Officer, SBI Cards & Payment Services Ltd., Chief General Manager, New Delhi – one of the largest Circles of the Bank and Deputy Managing Director, Stressed Assets Management Group.

During his career he has led a plethora of modernization initiatives based on data analytics to improve process efficiency and mitigate risk within the bank’s systems. Under his stewardship there has also been a strong focus on the growth & empowerment of the bank’s workforce through meritocratic policy practices and the wide adoption technology solutions. As a seasoned banking stalwart he is accomplished in navigating cross functional constraints & conflicts to arrive at resolutions that build productive partnerships.

Commenting on the development, Mr. Anil Gorthy, Chairman, Arcil, said “We at pleased to welcome Mr. Mohapatra as our MD & CEO. Mr. Mahopatra brings with him years of seasoned banking insight and a wealth of experience in the industry particularly the management of stressed assets. We are confident that he will continue to drive our evolution as a pioneer in the asset reconstruction space”.

About Arcil

Arcil is India’s pioneer ARC. Founded in 2002, ARCIL currently manages an AUM of Rs. 12,000 Crore in non-performing loans. With presence in 9 Indian cities and a team strength of 230 – Arcil ranks among the largest players in the Indian NPL sector, serving the Corporate, SME and Consumer/Retail segments. Its shareholders include Avenue, SBI, IDBI, PNB, ICICI and several other leading domestic and international investors including GIC.