Magma Fincorp Limited announced that Mr. Mayank Poddar serving the Company as an Executive Director of the Company for more than 30 years have decided to step down from the Executive role and now continue as a Non-Executive Director of the Company with effect from 8th November 2020 due to his personal reasons. Consequently the designation of Mr. Poddar has changed from Whole time Director to Non-Executive Director with effect 8 November 2020.