RazorPay Gets ex-RBI Dy Governor, ex-SBI MD And Some ex-IAS Officers

The fintech unicorn Razorpay has formed its new advisory board with former RBI Deputy Governor (as RazorPay chairperson), former SBI MD, and some IAS officers.

Razorpay, a leading fintech company in India, has established an advisory board to introduce industry-first practices and enhance corporate governance within the financial services sector. 

The board is chaired by NS Vishwanathan, former Deputy Governor of the Reserve Bank of India, and includes –

• Arijit Basu, Chairman of HDB Financial Services
• former MD of State Bank of India, Aruna Sundararajan
• former Secretary of Ministries of Steel, IT & Telecom,
• GoI, KP Krishnan, former Secretary of Ministry of Skill Development and Entrepreneurship,

and some renowned others. 

The board will provide feedback on various metrics, such as customer experience and safety, risk monitoring, cybercrime prevention, and compliance management processes.

Harshil Mathur, Co-founder and CEO of Razorpay, emphasized the importance of being future-ready in the constantly evolving fintech environment, and ensuring high standards of customer experience and governance. 

Vishwanathan agreed with Mathur, highlighting the need for collaboration among fintech companies to provide customers with the best services and promote a culture of responsible innovation.

Razorpay, established in 2014 by Mathur and Shashank Kumar, is a B2B fintech company in India that provides banking and fintech-related services to businesses. 

The company is backed by investors such as Lone Pine Capital, Alkeon Capital, TCV, GIC, Tiger Global, Sequoia Capital India, Ribbit Capital, Matrix Partners, Salesforce Ventures, Y Combinator, and MasterCard, which have invested a total of $741.5 million through Series A to F funding.

NS Vishwanathan was the former Deputy Governor of the Reserve Bank of India, he is now the new chairperson of the company. 

He said that it’s important to work together with innovative fintech companies in India to provide better and compliant services to businesses and consumers. 

The advisory board is a significant step towards promoting responsible innovation for a sustainable and inclusive financial system.