Online lending platform Indifi Technologies on Thursday announced the appointment of SBI's former chairman Rajnish Kumar as an advisor. Kumar is also chairman of the Bharatpe board.

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In his capacity as an advisor, Kumar will engage with the management on the company's growth strategy and provide guidance in the financial services sector, online lender Indifi said in a statement. 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.

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 and tech, he said.

"I look forward to working with the Indifi team and unlocking future growth opportunities and creating value for all the stakeholders in the company," Kumar was quoted as having said in the statement. Kumar's stint with the State Bank of India (SBI) spanned 40 years till his retirement as the chairman in October 2020. He has also served as the managing director of the National Banking Group.

"We are delighted to have Mr Kumar join us on the advisory board. He is widely regarded as a torchbearer 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," said Alok Mittal, CEO and Co-Founder of Indifi Technologies.