{"url":"https://newsforagent.com/news/2026-10-31/capital-india-finance-remitx-ceo-resigns","markdown_url":"https://newsforagent.com/news/2026-10-31/capital-india-finance-remitx-ceo-resigns.md","title":"Capital India Finance RemitX CEO Menon Resigns October 31","headline":"Capital India Finance Accepts Ravindran Menon's Resignation as RemitX CEO, Effective October 31","description":"Ravindran Menon resigned as CEO of Capital India Finance's RemitX division effective October 31, 2026.","section":"Leadership","published_at":"2026-10-31T14:16:25+00:00","modified_at":"2026-10-31T14:16:25+00:00","author":"News Desk","key_takeaways":["Ravindran Menon resigned as Senior Management Personnel and CEO of RemitX, effective at the close of business on October 31, 2026.","Menon cited personal reasons in a resignation letter dated October 31, 2026, addressed to Managing Director Keshav Porwal.","Company Secretary and Compliance Officer Hitesh Kumar signed the SEBI Regulation 30 and 51 filing submitted to the BSE and NSE on October 31, 2026."],"companies":[{"name":"Capital India Finance","is_primary":true,"profile_url":"https://akta.pro/company-profiles/002hzph/capital-india-finance","website":"https://www.capitalindia.com"}],"source":{"publisher":"ScanX","title":"Capital India Finance accepts resignation of RemitX CEO Menon","url":"https://scanx.trade/stock-market-news/companies/capital-india-finance-accepts-resignation-remitx-ceo-menon/54999837"},"other_sources":[],"tags":["Leadership","Capital India Finance"],"body_markdown":"[Capital India Finance](https://akta.pro/company-profiles/002hzph/capital-india-finance) said Ravindran Menon, Senior Management Personnel and Chief Executive Officer of its RemitX division, resigned effective at the close of business on October 31, 2026, citing personal reasons. [ScanX](https://scanx.trade/stock-market-news/companies/capital-india-finance-accepts-resignation-remitx-ceo-menon/54999837) reported the disclosure, which the company filed with the BSE and NSE.\n\n## Menon's Letter to Managing Director Keshav Porwal\n\nMenon communicated his resignation in a formal letter dated October 31, 2026, addressed to Managing Director Keshav Porwal. In the letter, he described his tenure as rewarding and formative and expressed appreciation for the experience gained with the management and staff.\n\nThe filing lists Menon's designation as Senior Management Personnel (CEO - RemitX), the reason for change as resignation, the date of cessation as October 31, 2026, and the term of appointment as not applicable. It states that no other relationships or director appointments were involved in the change.\n\nCapital India Finance submitted the intimation under Regulation 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, including the details the SEBI master circular requires for changes in senior management personnel. A copy of the resignation letter was enclosed as Annexure B to satisfy sub-para 7C of Para A of Schedule III to Regulation 30. Company Secretary and Compliance Officer Hitesh Kumar signed the digital submission to both exchanges on October 31, 2026.\n\n## Capital India Finance's RemitX Divestment and Lending Scale\n\nAccording to akta.pro [company records](https://akta.pro/company-data), Capital India Finance grew assets under management 22% year on year to ₹1,227.37 crore in FY26 and disbursements 62% year on year to ₹753.54 crore. The same records show profit after tax of ₹40.36 crore in FY26, a 243% jump, and a branch network expanded from 29 to 46 locations across India during the year.\n\n## RemitX Sale and Compliance Appointments Before Menon's Exit\n\nIn September 2026, Niyo acquired Capital India Finance's RemitX foreign and international operations, including its branch network, distribution partners, staff and brand, [Incubees](https://akta.pro/news-signals) reported. RemitX had 32 locations across more than 30 cities and 16 states, and Niyo was to add over 2,500 distribution partners.\n\nOn October 5, 2026, Capital India Finance appointed Hitesh Kumar as Company Secretary and Compliance Officer and Simarjeet Singh as Chief Compliance Officer, ScanX reported. The board also authorized Porwal and Chief Executive Officer Pinank Jayant Shah to determine the materiality of disclosures to stock exchanges.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}