The Reserve Bank of India (RBI) has approved the nomination of Rajat Kumar Jain as Part-time Chairman of Fino Payments Bank, the bank stated in a regulatory filing. The tenure will be effective for a term of two years.
Jain has almost three decades of strategic leadership expertise in consumer, telecommunications, media, and technology.
Rajat Kumar Jain attended IIT Delhi and IIM Ahmedabad and currently serves as a non-executive director on several boards, including Aditya Birla and Mahindra conglomerates.
Rishi Gupta, Managing Director & Chief Executive Officer of Fino Payments Bank said, “Jain’s experience and expertise across sectors, especially in technology will have a strong bearing on our business model. We are fortunate to have his guidance as Fino Bank strengthens its digital ecosystem to realize its growth potential.”
From February 2012 to December 2017, Jain was the MD and non-executive director of Xerox India. He became a non-executive director on the board of directors of Xerox India on January 1, 2015. During his three-year tenure as managing director, from February 2012 to January 2015, Jain was instrumental in guiding and developing Xerox’s Indian businesses.
Jain stated that, “As the Bank aims to expand its horizons, I look forward to working with my colleagues at the Board and senior management team at Fino Bank towards creating a differentiated digital Bank.”