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HNGIL appoints Rakesh Mehta as COO, north after Madhvani takeover
KOLKATA: Hindustan National Glass & Industries Ltd (HNGIL) has appointed Rakesh Mehta as chief operating officer, north, with immediate effect, strengthening its leadership team following its acquisition by Independent Sugar Corporation Ltd (INSCO), part of Uganda-based Madhvani Group, in September 2025.
The appointment signals HNGIL’s post-acquisition push to sharpen operational execution and accelerate growth in northern India. Mehta will oversee manufacturing facilities across the region, with a mandate spanning supply-chain optimisation, production efficiency and market expansion across pharmaceuticals, liquor, beverages and food packaging segments.
Mehta brings more than two decades of experience across finance, commercial operations, contracting and regional leadership. Prior to joining HNGIL, he served as finance head – north at Reliance Jio Infocomm Ltd from 2013, and held senior roles at Reliance Retail, managing distribution, logistics and operations across Gurugram and key northern markets.
Commenting on the appointment, chief strategy and corporate affairs officer Suraj Mehta, said the leadership addition comes at a pivotal moment for the company. He added that Mehta’s operational depth and strategic perspective would strengthen northern operations and support HNGIL’s ambition to retain leadership in container glass manufacturing.
Rakesh Mehta said he was excited to join HNGIL following the acquisition and looked forward to driving efficiency, innovation and scalable growth to deliver world-class glass packaging solutions to customers.
Founded in 1946 and headquartered in Kolkata, HNGIL operates 11 furnaces and 44 production lines, supported by advanced glassmaking technology sourced from Europe and the United States.
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YES Bank appoints S Anantharaman as chief risk officer
Former Jio Financial Services group chief risk officer takes charge of enterprise-wide risk at the embattled private lender
MUMBAI: YES Bank is not taking chances with risk anymore. The private lender has appointed S Anantharaman as its chief risk officer, a hire that signals the bank’s continued effort to rebuild credibility and tighten the controls that once famously slipped.
Anantharaman arrives from Jio Financial Services, where he served as group chief risk officer and built a risk management architecture spanning lending, payments, insurance broking and asset management from the ground up. Before that, he held the chief risk officer role at Bank of Baroda and senior leadership positions at HDFC Bank and L&T Finance Holdings. Three decades in banking and financial services, in other words, with scars and qualifications to match. He is a chartered accountant and a CFA charterholder.
At YES Bank, his brief is considerable. Anantharaman will oversee the bank’s entire enterprise-wide risk framework, covering credit policy, market risk, operational risk, information security, data governance, analytics, model governance and data privacy. It is, in short, every lever that matters when a bank is trying to prove it has grown up.
YES Bank’s turbulent past needs little rehearsing. What it needs now is exactly what Anantharaman has spent thirty years building: the kind of risk culture that stops problems before they become headlines. The appointment suggests the bank knows it.
