A tech enthusiast and natural leader, CEO, and Founder of mBnk, Shashank Joshi has always known that his calling was to have his own business in the fin-tech industry. He has gained industry knowledge through his endeavors in software and hardware development; even pioneering PC retail in India. Shashank’s journey has ranged from being product-centric to customer-centric. He possesses over 30 years of experience in the industry. Before becoming the CEO, his previous venture MoneyOnMobile had garnered 3.5 lakh retailer outlets around the country. Mr. Shashank Joshi has been honored with the Franchise India Award for Entrepreneur of The Year in service business 2014. He has been featured in an article by the New York Times on his contribution to helping Indians move to a cashless economy.
Our Exclusive Interview:
1. How would you describe yourself in 5 or fewer sentences?
I would say I am someone who would take up a mission/task only that I am profoundly driven and passionate about. I am a thorough hard worker as I believe nothing comes free in life. I am a people person and love to converse about how one can lead a better quality of life. I am a staunch follower of Sadhguru. While I love my work nothing compares to spending time with my family and traveling with them.
2. What does work-life balance mean to you?
In my opinion, work-life balance is a narrative that has been created by the western world. I believe whatever task you take up, should be done with complete 100% involvement. You have put in your best effort, without keeping any expectations as to what the outcome will be. If you can do this, you will lead a great life without having to look for a work-life balance.
3. If not a corporate leader, what would your professional identity be?
If not a corporate leader, my professional identity would be a sportsman as I’ve had an inclination toward sports since I was in school.
4. Who do you look up to for inspiration?
I do not have anyone in particular from whom I draw inspiration. I believe everybody goes through their own experiences and what they achieve in life is due to how they choose to face their circumstances to the best of their potential. As Sadhguru says, never look up to somebody or look down at somebody but look at people for what they truly are.
5. What was the last book you read and how did it impact you as an individual?
The last book that I read is called Code Name God by Dr. Mani Lal Bhaumik who was one of the pioneers of the LASIK eye surgery technology. This book has strengthened my belief in Indian sages and saints who have practiced meditation and provided us with their learnings right from the source.
6. What do you do to rejuvenate, to get back in touch with yourself?
Meditation is my method of rejuvenation. Typically I spend about 90 mins every day meditating.
7. Your take on an open-door policy.
I believe an open-door policy is the most important policy for top-level executives. You can become a great leader if you have feedback from the ground. It is important to create a safe space for the employees wherein, they can share their grievances and provide constructive feedback when they find their leader more approachable. 30,000 ft view is good while looking at your vision and mission.
8. What is your suggestion to improve corporate India’s D&I quotient.
I always say have more respect towards someone who is capable of doing what you can without the privileges you have. I have personally recruited people who have speech and hearing impairments. They can contribute with coding or programming. Corporate India needs to hire based on the quality of work being provided instead of focusing on the background of the person.
9.What is the next milestone you wish to achieve that keeps you driving forward?
mBnk is all about providing accessible banking and financial services to our largely underserved population. The next milestone that I wish to achieve would be to include 10 million individuals from Bharat in the financial mainstream. This challenge is something that will keep me motivated for the next year and a half.
10. Your perspective on sustainability and how do you promote it
Every human being has to be aware that he can not abuse the resources that are available to him and he has to help sustain the planet in a better shape for the coming future generations. If there is sufficient awareness and consciousness of this we won’t need to promote sustainability, it will be instilled in each person. However, that is in an idealistic world and since we all aren’t aware I’d suggest following simple rules I follow to promote sustainability, they are 1. Say No to Single-use plastic. 2. Use cars that are electric or CNG 3. Optimally use electricity.
11. What is the one quality you admire in today’s leaders and what is the one quality you find lacking them?
I admire the work our PM Shri Narendra Modi Ji is doing and has done for the Nation by following the principle of Service above Self. Be it the JAM trinity (Jandhan Aadhar Mobile) or the various initiatives to go digital. It has definitely reduced the burden on the common man. I would not like to comment upon the other half of the question.
Know the Person
- Loyalty to you is Unwavered
- Fun and recreation to you is Traveling
- Experience vs Education – what would you give higher preference to Experience
- Mountains or the beach: your ideal vacation spot would be Beach
- Horror, Action, Adventure, Romantic, Comedy – your favorite genre Adventure