Magma Fincorp announced the appointment of Ajay Rawal as Chief Marketing Officer (CMO). As CMO, he will anchor the Magma's branding initiatives and guide the Channel & Product Development efforts. He will be based in Mumbai. An MBA with over 20 years experience, Rawal started his career in 1991 at Lupin Laboratories and thereafter worked in companies like IPCA Laboratories, Elder Healthcare etc. Prior to joining Magma, he was GM - Marketing with Paras Pharmaceuticals. Magma Fincorp is a non-deposit taking non-banking finance company (NBFC), registered with the Reserve Bank of India (RBI) as an Asset Finance Company.