BharatPe has announced that former State Bank of India (SBI) chief Rajnish Kumar has been appointed as the chairman of the company’s board.
Fintech company BharatPe has announced that former State Bank of India (SBI) chief Rajnish Kumar has been appointed as the chairman of the company’s board. The former chairman of SBI will play a role in developing the company’s short-term and long-term strategy and will work closely with other board members and CXOs on key business and regulatory actions. The company gave this information on Tuesday.
Will advise the management on all matters
Ashneer Grover, Co-Founder and Managing Director, Bharat Pay, said that it is a matter of great pride for him that one of the biggest stalwarts of the Indian banking industry has agreed to join Bharat Pay as the Chairman of the Board. He further added that he is waiting for valuable guidance from Rajnish Kumar. They want to become India’s largest digital credit provider.
Bharat Pay said in a statement that Kumar will advise and advise the management on business performance and corporate governance matters.
SBI Chairman from 2017 to 2020
Industry veteran Rajnish Kumar was the chairman of SBI from October 2017 to October 2020. He has also served as the Managing Director and Managing Director (Compliance and Risk) of SBI.
Kumar said that in just three years, Bharat Pay has come a long way in the financial services industry and has emerged as a trusted name. He further added that there are huge opportunities ahead for this company and it would be great to work closely with its young and talented team to develop financial services for the India of tomorrow.
Kumar was appointed as an independent non-executive director of the Asian arm of Hong Kong and Shanghai Banking Corporation (HSBC) in August. Earlier in February, Kotak Investment Advisors had announced that Kumar would be an exclusive advisor to its $1 billion special situation fund.
Bharat Pay provides payment solutions and other financial services to sellers. The company became a unicorn in August. In August, the company raised $370 million in its Series E round led by Tiger Global. After this round, the valuation of Bharat Pay reached $2.85 billion.
read this also: big news! Cabinet and CCEA meeting will be held at 6 pm today, these big announcements were made in the last meeting
read this also: How to choose the right car loan for you? Follow these 5 tips