Homebusiness Newscompanies News

    BharatPe appoints two independent directors to its board

    BharatPe appoints two independent directors to its board

    BharatPe appoints two independent directors to its board
    Read Time
    3 Min(s) Read
    Profile image

    By CNBCTV18.com  IST (Published)

    Mini

    B. P. Kanungo, former deputy governor of the Reserve Bank of India, and Kaushik Dutta, current chairman and independent director of Zomato, have been appointed to BharatPe's Board of Directors, the company said.

    Fintech unicorn BharatPe on Tuesday said it has appointed two industry experts to its board as independent directors, as part of its ongoing effort to establish an accountable and transparent corporate governance framework.
    B. P. Kanungo, former deputy governor of the Reserve Bank of India, and Kaushik Dutta, current chairman and independent director of Zomato, have been appointed to BharatPe's Board of Directors, the company said.
    Speaking on these appointments, Rajnish Kumar, chairman of the Board, BharatPe said, "Earlier this year, we had put in place a robust governance framework and were in the process of identifying the right leaders who could join the Board in building BharatPe 2.0."
    "We are honoured to welcome Kanungo and Dutta to the BharatPe Board. I am confident that these distinguished leaders, with a very diverse knowledge of the banking industry, and corporate governance best practices, will provide invaluable guidance to the Board and Management,” he added.
    The appointments are consistent with the company's goal of becoming a world-class institution and the torchbearer of corporate governance in the startup sector.
    Kanungo served as deputy governor of the Reserve Bank of India from 2017 to 2021 and will work closely with the Board to assist BharatPe's aim to establish a high-quality profitable business.
    Dutta has vast expertise in corporate governance, including senior roles at PwC, and his guidance will be critical for the firm as it prepares to go public in the next 2-3 years.
    BharatPe's board will now consist of two executive directors, Shashvat Nakrani (Founder) and Suhail Sameer (CEO). Others include five non-executive directors Rajnish Kumar (former chairman of State Bank of India) and four investor nominees and two independent directors.
    In keeping with BharatPe's commitment to having a board with at least one-third of independent directors, Kewal Handa stepped down from the Board but will continue to advise the board and management.
    Suhail Sameer, CEO, BharatPe, said “It is my honor to welcome seasoned industry leaders- Shri Kanungo and Shri Dutta to the BharatPe Board. With them joining, BharatPe has one of the most admired Boards in the country, comprising highly respectable names from the banking and financial services industry."
    "Their diverse experience and deep understanding of the industry and the regulatory landscape, will be a great asset for us at BharatPe as we continue to build products that disrupt the market. I look forward to working with the industry pioneers as we continue on our journey to drive financial inclusion across the length and breadth of Bharat,” he added.
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
    arrow down

      Most Read

      Market Movers

      View All
      CompanyPriceChng%Chng