Rajat Kumar Jain appointed as the Chairman of Fino Payments Bank

By Gloria Mathias

Fino Bank has appointed ex-MD of Xerox India and Walt Disney India Rajat Kumar Jain as Chairman of Fino Payments Bank. The bank is progressing on its plans for the next phase of digital-led growth and preparing for its evolution in the Fino 2.0 avatar.

The Bank has received approval from the Reserve Bank of India (RBI) via its letter dated November 24, 2023, for the appointment of Mr. Rajat Kumar Jain, Independent Director, as Part-time Chairman of the Bank w.e.f. November 24, 2023, till November 1, 2025.

Rajat Kumar Jain, an alumnus of IIT Delhi and IIM Ahmedabad, is an accomplished corporate executive turned entrepreneur, business mentor/angel investor and serves as a non-executive director on various Boards including group companies of Aditya Birla and Mahindra conglomerates.

Jain brings over three decades of strategic leadership experience across the Consumer, Telecom, Media, and Technology sectors. He is the Founder and Director of PadUp Ventures, a knowledge and mentoring platform that provides deep mentoring, incubation, and acceleration services to early-stage tech startups across sectors, including Fintech.

Rishi Gupta, MD & CEO, Fino Payments Bank said, “We are delighted about the appointment of Mr. Rajat Kumar Jain as the Part-time Chairman of the Board at a very crucial juncture of the Bank’s journey. His 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 realise its growth potential.”

Rajat Kumar Jain said, “I am excited to be a part of the bank’s journey as its non-executive chairman of the board. It is an interesting phase, as the bank is on the cusp of its evolution into its new digital avatar. In a short span of six years, the bank has achieved remarkable milestones, with consistent profitability being the key. 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.”