New Delhi, 28 April 2022: Indifi Technologies, India’s leading ecosystem based lending platform for MSMEs, announced the appointment of Mr. Rajnish Kumar, former Chairman of the State Bank of India, as an Advisor. In this capacity, Mr. Kumar will engage with the management on the company’s growth strategy and provide guidance in the financial services sector.
Mr. Kumar has had a long and illustrious career in banking and finance. He currently sits on the boards of HSBC Asia Pacific, L&T Infotech, Hero MotoCorp and BharatPe.
His stint with SBI spanned 40 years from where he retired as the Chairman in October 2020. In his prior assignments, he has also served as the Managing Director of the National Banking Group, and the Managing Director of Compliance & Risk at SBI. He was previously appointed as a non-executive director at HSBC’s Hong Kong-headquartered Asia unit; as a senior advisor to Baring Private Equity Asia, and has also served as an advisor to Kotak Investment Advisors. He has recently joined the international strategic advisory board of Dun & Bradstreet, a global provider of business decisioning data and analytics.
Commenting on the appointment to Indifi’s Advisory Board, Mr Rajnish Kumar said, “The MSME sector and their credit gap has been a serious problem for India. The headway that Indifi is making in this regard is important and impressive. Their ecosystem based approach to lending has leveraged the opportune intersection of digital platforms used by MSMEs and advancement in data & tech. Not only have they been successful in undercutting the roadblocks of MSME access to finance, but have also enabled credit efficiency for their lending partners. I am excited to partner with Indifi and contribute to Alok and Siddharth’s vision of creating on-ground impact and empowering MSMEs leading to upward mobility in the Indian economy. I look forward to working with the Indifi team and unlocking future growth opportunities and creating value for all the stakeholders in the company..”
Alok Mittal, CEO & Co-Founder, Indifi Technologies said, “We are delighted to have Mr. Kumar join us on the Advisory Board. He is widely regarded as a torch bearer of Digital India. This coupled with his experience and knowledge of the banking and financial services industry will be truly invaluable to the Indifi’s ambitions to spread credit inclusion amongst Indian MSMEs. We look forward to unlocking new growth opportunities with his direction and guidance.”