Rajnish Kumar, former chairman of State Bank of India (SBI), has joined the board of BharatPe as its Chairman. Kumar will mentor the BharatPe team during transition into a small finance bank. He will also be involved in defining the firm's short-term and long-term strategy.
“In just 3 years, BharatPe has come a long way in becoming a trusted name in the financial services industry. It has redefined payments with its products like interoperable QR and has also emerged as the largest B2B lender in the industry. This company has a huge opportunity ahead and it would be great to work closely with its young and talented team to build financial services for the India of tomorrow," Kumar said.
Ashneer Grover, Co-Founder and Managing Director, BharatPe said, “It is a matter of great validation and pride for us that one of the biggest stalwarts of the Indian Banking Industry has agreed to join BharatPe as the Chairman of the Board. We look forward to invaluable guidance from Rajnish Kumar as we build India’s largest digital credit provider. We are confident that under his able guidance, BharatPe will attain newer heights and build the best-in-class Fintech for the new India."
Kumar, who retired from the country's largest lender after four decades of service in October 2020, was previously appointed as a non-executive director for banking giant HSBC's Hong Kong-headquartered Asia unit. Kumar was also appointed as the senior advisor by Baring Private Equity Asia and an advisor to Kotak Investment Advisors.
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