BharatPe declared that the Former SBI head Rajnish Kumar had been appointed as the board chairman. He will be included in determining the firm’s short-term and long-term strategy and will work with the other board members, CXOs on important business and regulatory initiatives, they said.

Ashneer Grover, Co-Founder and Managing Director, BharatPe, said, “We are looking forward to precious guidance from Rajnish Kumar as we build India’s largest digital credit provider.” Kumar will also advise the management on issues around business performance and corporate governance, BharatPe told in a statement.

“In just three years, BharatPe has become a trusted name in the financial services industry. This company has a big opportunity ahead, and it will be great to work with its young and talented team to build financial services for India,” Kumar said. Kumar was appointed as an independent non-executive director of Hongkong and Shanghai Banking Corporation’s (HSBC) Asian entity. In February, Kotak Investment Advisors Limited declared that Kumar would be an exclusive adviser for its $ 1-billion Special Situation Fund.