Corporate Governance
About us
Radiant Cash Management Services (RCMS) was founded in March 2005 by Colonel David Devasahayam under the name of Radiant Cash Management Services Private Limited. Col. David Devasahayam is the Chairman and Managing Director of the Company
RCMS is an ISO-Certified Company, and an integrated Cash Logistics Player with a leading presence in the Retail Cash Management (“RCM”) segment of the cash management services industry in India and are one of the largest players in the RCM segment in terms of network locations or touch points served and on revenue or profitability as of Fiscal 2021. (Source: F&S Report). We provide services across 13,000 plus pin codes in India, covering all districts (other than Lakshadweep) with more than 66,000 touch points serving more than 6,200 locations as of September 30, 2023. Our marquee clients include some of the largest foreign, private, and public sector banks, and the end-user of our services include some of the largest e-commerce companies, retail chains, NBFCs, insurance firms, e-commerce logistics players, railways, and retail petroleum distribution outlets.
The Company is listed on the Stock Exchanges of BSE Limited and National Stock Exchange of India Limited w.e.f. 04 January, 2023 and is among the top 1000 listed Companies India, based on the Market Capitalisation as on 31 March, 2023.
The Company has one Subsidiary “Aceware Fintech Services Pvt. Ltd”, a Cochin based banking correspondence & fintech services provider for Banks / Financial Institutions / Merchants, facilitating digital payment solutions and other allied services to the rural population.
About The Founder
Colonel David Devasahayam
Col. David Devasahayam is the Chairman and Managing Director and founder of our Company. He holds a bachelor’s degree in science from Jawaharlal Nehru University along with a master’s degree in science in defence studies from University of Madras. He has also completed the 44th session of the Owner/President Management Program at Harvard Business School. He has served in the Indian Army for over twenty four years. He has been associated with our Company since its incorporation in 2005. He has 16 years of experience in relation to his professional association with the Company. He received an award at the Security Leadership Summit in 2011 and was also awarded one of Asia’s Greatest Leader Award by ‘Asia One’ in 2018.
Read moreKey Awards & Accolades
2018
The Company received an award at ‘Asia’s Greatest Brands 2018’ award in the Category ‘Cash Logistics Services’ by ‘Asia One’ magazine.
2015
Was awarded the gold medal by the Institute of Economic Studies (IES) India at the “Global Economic Scenario” seminar held in Bangkok, Thailand.
2014
Received the ‘Best Cash Management Services’ award at the 3rd State Conference CAPSI & APDI Tamil Nadu and Pondicherry chapter.
BOARD OF DIRECTORS
Col. David Devasahayam is the Chairman and Managing Director and founder of our Company. He holds a bachelor’s degree in science from Jawaharlal Nehru University along with a master’s degree in science in defence studies from University of Madras. He has also completed the 44th session of the Owner/President Management Program at Harvard Business School. He has served in the Indian Army for over twenty four years. He has been associated with our Company since its incorporation in 2005. He received an award at the Security Leadership Summit in 2011 and was also awarded one of Asia’s Greatest Leader Award by ‘Asia One’ in 2018.
Dr. Renuka David is the Whole-time Director of our Company. She has been associated with our Company since its incorporation in 2005. She holds a MBBS degree from Bharathiar University. She has completed her PhD (HC) from The American University for Global Peace in USA She has received her medical registration certificate from the Tamil Nadu Medical Council. She was previously employed as a medical officer in Apollo Hospitals, Chennai, a casualty medical officer in Sree Uthradom Thirunal Hospital and a contract doctor in the Assam Rifles.
Ms. Jayanthi is an Independent Director of our Company. She holds a bachelor’s degree in arts and a master’s degree of arts in politics and public administration from the University of Madras. She passed the All-India Services exam in 1971. She has been associated with our Company since 2021. She has 35 years of experience in Indian Administrative Services and has held various positions in the Government (Public Department, Secretariat). She retired as the Vice Chairperson of the Chennai Metropolitan Development Authority in the year 2006.
Lt. Gen. (Retd.) Devraj Anbu is an Independent Director of our Company. He holds a bachelor’s degree in arts from National Defence Academy, Jawaharlal Nehru University, master’s degree in science in Defence Studies from University of Madras and a master’s of philosophy in Defence and Management from School of Defence & Management Studies, Devi Ahilya Vishwavidyalaya Indore. He has been associated with our Company since 2021. He has over 35 years of experience in the Indian Army and was the Vice Chief of Army Staff , General Officer Commanding-in-Chief of Northern Command (Army Commander) and General Officer Commanding Corps (Corps Commander) He has been awarded with the Sena Medal , Yudh Seva Medal, Ati Vishisht Seva Medal Uttam Yudh Seva Medal and Param Vishisht Seva Medal in the past.
Mr. Ashok Kumar Sarangi is an Independent Director of our Company. He holds a bachelor’s degree of arts in Political Science from Sambalpur University, master’s degree of arts in political science from Jawaharlal Nehru University and a master’s degree of philosophy from Jawaharlal Nehru University. He has been associated with our Company since 2021. He has 32 years of experience with the Reserve Bank of India and retired as Chief General Manager.
Mr. Ayyavu Palanichamy Vasanthakumar is the Nominee Director of our Company as appointed by Ascent Capital Advisors India Private Limited. He has been associated with our Company since January 3, 2019. He holds a bachelor’s degree in engineering from Bharathiar University and a master’s degree in business administration from Bharathidasan University. He is currently associated with Altius Capital India Limited as a Shareholder, I-Nurture Education Solutions Private Limited as a Nominee Director and Karaikal Port Private Limited as an Alternate Director. He has 13 years of experience in Private Equity Investments.
COMPOSITION OF COMMITTEES
AUDIT COMMITTEE
• Ms. Jayanthi- Chairperson-Independent Director
• Lt. Gen. Devraj Anbu-Member-Independent Director
• Mr. Ashok Kumar Sarangi-Member-Independent Director
• Col. David Devasahayam-Member-Chairman and Managing Director
NOMINATION & REMUNERATION COMMITTEE
• Ms. Jayanthi-Chairperson-Independent Director
• Mr. Ashok Kumar Sarangi-Member-Independent Director
• Lt. Gen. Devraj Anbu-Member-Independent Director
• Mr. Vasanth Kumar A.P-Member-Non-executive Nominee Director
STAKEHOLDERS RELATIONSHIP COMMITTEE
• Lt.General Devraj Anbu- Independent Director ( Chairman)
• Ms.Jayanthi – Independent Director -( Member)
• Col David Devasahayam – Managing Director ( Member)
CORPORATE SOCIAL RESPONSIBILITY COMMITTEE
• Lt.General Devraj Anbu- Independent Director ( Chairman)
• Dr.Renuka David- Wholetime Director (Member)
• Mr. Vasanthakumar A.P – Nominee Director (Member)
RISK MANAGEMENT COMMITTEE
• Col David Devasahayam – Managing Director ( Chairman)
• Mr. Ashok Kumar Sarangi – Independent Director (Member)
• Col Benz K Jacob – Chief Operating Officer (Member)
Key Managerial Personnels (KMP)
Col.David Devasahayam
Chairman and Managing Director
Dr. Renuka David
Whole-time Director
Mr. T V Venkataramanan
Chief Financial Officer
Mr. Nithin Tom
Company Secretary
Col. Benz Jacob
Chief Operating Officer
Mr.Cyrus Shroff
Chief Marketing Officer
Mr.Karthik Sankaran
Chief Technology Officer
Policies
Risk Management policy Click here
Information Security Policy Click here
Equal Opportunity Policy Click here
Business Responsibility and Sustainability Policy Click here
Dividend Distribution Policy Click here
Code of conduct of board of directors and senior management personnel Click here
POSH policy Click here
Familiarization Programme for Independent Directors Click here
Appointment Remuneration & Evaluation Policy Click here
Appointment Remuneration & Evaluation Policy Click here
CSR Policy
CSR ACTION PLAN FY 2022-23 Click here
Click here
Details of establishment of vigil mechanism/ Whistle Blower Policy Click here
Details of establishment of vigil mechanism/ Whistle Blower Policy 1 Click here 2 Click here
Prohibition of Insider Trading Code Click here
Code of Conduct for fair disclosure of UPSI Click here
RPT Policy Click here
Preservation of Documents and Archival Policy Click here
Appointment of Independent Directors
Policy on dealing with related party transactions Click here
Terms and conditions of appointment of independent directors Click here
Materiality Policy Click here
Policy on determining Material subsidiaries Click here
Anti-Corruption and Anti-Bribery Policy Click here
Anti-Corruption and Anti-Bribery Policy Click here