Rajnish Kumar, former chairman of State Bank of India (SBI), has been appointed as the chairman on the board of fintech company BharatPe. Kumar has vast experience of working in the financial sector of India.
Kumar will mentor the BharatPe team during the transition to Small Finance Bank. Along with this, Kumar will assist in formulating the short term and long term strategy of the company.
Kumar said that in just three years, BharatPe has done a great job of winning the trust of the people in the financial services industry. The company has reimagined payments with its products like Interoperable QR. The company has many opportunities for the future. It would be great to work together with the young and talented team here.
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Ashneer Grover, Managing Director and Co-Founder, BharatPe said, “It is a matter of pride for us that Kumar, the biggest banking stalwart, has agreed to the position of Chairman on the Board of BharatPe. We will benefit from Kumar’s experience. We are confident that we will scale new heights under his guidance.
Rajnish Kumar retired from the country’s largest bank State Bank of India in October 2020 after four decades of service. Prior to this, Kumar had also worked as a non-executive director in Hong Kong-based HSBC Bank.
Meanwhile, BharatPe has recently announced to do business in the Buy Now Pay Later (BNPL) category under the Postpay app. The company says it aims to build a loan book of around Rs 2,245 crore in the first 12 months.
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