InPrime Finserv
Rajat Singh has a diverse work experience spanning various roles and responsibilities. Rajat is currently the Co-Founder & CEO of InPrime Finserv, a position they have held since December 2021.
Prior to this, Rajat worked at Ujjivan Small Finance Bank Limited for several years. Their roles at Ujjivan included Head Microbanking & Rural Banking, where they managed the bank's largest business of Microfinance & Rural banking. Rajat focused on driving asset growth and improving business profitability through various strategies such as growing the individual loan portfolio, digital transformation of microfinance clients, and developing asset and deposit products for the rural mass market.
Rajat also served as Head- Strategy & Planning, where they played a pivotal role in the transition of Ujjivan from an NBFC to a bank. Rajat was responsible for building the overall strategy and business plan for this transition. Additionally, they held the position of Chief Operating Officer for the East and North regions, overseeing the growth and performance of the microfinance business in those areas.
Before their roles at Ujjivan, Rajat served as Chief of Staff and Manager MIS, gaining valuable experience in operational and financial management. Rajat started their career as a Financial Analyst.
Throughout their career, Rajat has demonstrated a strong focus on driving growth, improving profitability, and implementing strategic initiatives.
Rajat Singh completed their Bachelor of Technology (BTech) degree in Agricultural and Food Engineering from the Indian Institute of Technology, Kharagpur, from 2003 to 2007. Before that, they completed their Higher Secondary education with a focus on Mathematics, Physics, and Chemistry from Science College, Patna, from 2000 to 2002. Prior to that, from 1996 to 2000, Rajat completed their Secondary education at Residential School, Netarhat. In addition to their formal education, Rajat also received additional certifications such as "Strategic leadership in Microfinance" from Harvard Business School in 2011 and the distinction of being an NTSE scholar from the National Council of Educational Research and Training (NCERT) in 2001. Rajat also holds an NCFM certification, though the institution and year obtained are unspecified.
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InPrime Finserv
‘Informal Prime’ as we christen this segment as, is an emerging horizontal segment within the informal economy. It originates from its progressive behavioral characteristics rather than pure demographic segmentation; And transcends across geography, livelihoods, and income levels. The manifestation of this segment is evident with customers exhibiting a growth mindset, making transitions from a cash to less cash economy, adopting digital solutions backed by a proven credit track record of several years. However, there is faint recognition of their progressive characteristics and consequently of their advanced financial needs. At InPrime, the aim is to recognize this sub-segment within the informal economy and carry forward the winning attributes of traditional lending and simultaneously leverage the modern lending practices focused on data, digital and technology. This, we believe can generate superior financial and non-financial outcomes without compromising on the core elements of lending which include- customer connect, engagement and risk management. We estimate that approximately 50 million households are part of this evolving segment with an incremental annual credit need of Rs. 5 lakh crores (70 billion USD). It will need a new category of institutions to cater to this massive emerging demand and we intend to be one of the early movers in this space.