Ravindra Rai M. appointed as Managing Director & CEO of BOBCARD LTD

BOBCARD LIMITED, a wholly owned subsidiary of Bank of Baroda, announces the appointment of Ravindra Rai M. to the position of Managing Director & CEO. Rai, who previously served as the Deputy Managing Director (DMD) of BOBCARD LIMITED, will now lead the company’s strategic initiatives aimed at solidifying its presence as a key player in the credit card industry.

Ravindra Rai brings with him nearly three decades of extensive experience in the Banking and Financial Services Industry. In his new role, Ravindra Rai will focus on driving business growth while strengthening the company’s risk management framework, enhance customer experience and curating innovative product portfolio that meets the evolving needs of the Indian consumer base—all in alignment with BOBCARD LIMITED's motto of "Reimagining credit for India."

Throughout his distinguished career, Mr. Rai has held various key roles, including General Manager at Bank of Baroda. In his previous role at the parent Bank, he excelled in areas such as Treasury, Credit, International Banking, and Banking Operations. Prior to joining BOBCARD LIMITED, Rai spent over 15 years at Vijaya Bank, where he managed rural and corporate banking branches, oversaw strategic regions, and contributed significantly at the bank's corporate office and overseas operations in the Middle East.

Commenting on his appointment, Ravindra Rai, MD & CEO, BOBCARD LIMITED said, “I am delighted to assume the role of Managing Director & CEO at BOBCARD LIMITED. This opportunity is both a privilege and a responsibility, and I am eager to lead our team in our mission to provide outstanding value and service to our customers. With a strong focus on innovation and a commitment to product excellence, I look forward to building on our tradition of success and guiding BOBCARD LIMITED toward a future of continued growth and achievement.”

Rai’s academic background includes a degree in Economics, a Master's in Public Relations, and an associate membership with the Indian Institute of Bankers. He is also a certified forex professional and has specialized knowledge in IT and Cyber Security for Senior Management.

In addition to his professional achievements, Mr. Rai is a passionate cricketer, having represented Mangalore University, Zone and Karnataka State, where he earned accolades for his outstanding performances in sports.

Under Rai’s leadership, BOBCARD LMITED is poised to continue its growth trajectory. As per the latest figures published by the Reserve Bank of India (RBI), BOBCARD has recorded a remarkable 44% growth, with the number of cards increasing from 19.47 lakhs to 28.08lakhs.