Razorpay has roped in former RBI deputy governor NS Vishwanathan as the chairperson of the new advisory board it has formed to help build industry-first practices in innovation as well as corporate governance.

Share Market Live

NSE

The advisory board will assist the company in developing strategies that are long-term and anticipate challenges as well as suggest mitigation measures.

The company has also roped in other industry veterans as members of the board — SBI's former managing director Arijit Basu, former secretary of the ministries of steel, IT and telecom Aruna Sundararajan, and former secretary of the ministry of skill development and entrepreneurship KP Krishnan.

"In light of India’s rapidly evolving financial sector, it is crucial to foster collaboration with innovative fintech companies to drive progress and deliver superior yet compliant services to businesses and consumers... This (advisory board) is n important step in promoting a culture of responsible innovation, something imperative for the development of a more sustainable and inclusive financial system for all," said Vishwanathan.

The members of the advisory board will meet up periodically to review as well as analyse and give recommendations and directions on strategic and tactical levels, the company said. The key subject areas for the board would be accelerating product innovation around customer safety and experience, and building best-in-class practices for compliance management as well as regulatory processes, among others.

"There is a tremendous opportunity to learn from each of these industry veterans. We believe that with their strategic inputs, knowledge and guidance along with our commitment to innovation, customer-centricity and good governance, Razorpay is sure to build best practices in the fintech industry that will aid us in sound decision making," said Harshil Mathur, CEO & Co-Founder at Razorpay.

First Published:Apr 18, 2023 11:53 AM IST