India’s leading financial products marketplace BankBazaar today announced today appointment of former Reserve Bank of India (RBI) Deputy Governor S S Mundra as an advisor to the company.
As per BankBazaar, Mundra’s expertise will help in driving 100 percent paperless and presence-less finance in India.
Mundra holds more than four decades of experience in the banking sector. Prior to joining BankBazaar he was heading the state-run Bank of Baroda before his superannuation. He then completed a three-year term as the Deputy Governor at Reserve Bank of India (RBI). His tenure with the regulatory body, ended in July 2017.
He there witnessed several significant developments such as Demonetisation and Payment Banking approvals.
He also worked as RBI’s nominee on the Financial Stability Board (G20 Forum) and its various committees.
“From its inception, BankBazaar had a vision of Paperless and Presence-less digital finance. Today, as digital increasingly becomes the preferred way to transact, there is a greater need for collaboration between fintech, regulators, and financial institutions. This will ensure easy and frictionless access of financial products and services to all sections of society. At this juncture, we are deeply honoured to have Mundra, one of the biggest advocates of Paperless and Presence-less banking, join BankBazaar as a mentor and advisor. We are confident that his advice and guidance on policy advocacy will help 100 percent Paperless and Presence-less access to personal finance become the norm. Customers will gain the most out of it as the Industry will be able to serve them more efficiently, responsibly, and in a cost-effective way,” said Adhil Shetty, Co-Founder & CEO, BankBazaar.
“Financial inclusion is the need of the hour. I believe that the road to greater financial inclusion is through technology and innovation that the likes of BankBazaar are pioneering. The company has taken giant strides in simplifying access to personal finance in India. I look forward to working with BankBazaar as an advisor in their journey to bring access to the right financial products to all Indians and will be happy to share my insights with them in this pursuit,” said Mudra.