Krazybee Services, a Non-Deposit taking Non-Banking Financial Institution (NBFC) registered with Reserve Bank of India, has appointed G Gopalakrishna, former Executive Director (ED) of Reserve Bank of India (RBI) as an Independent Director on its Board, said a statement.
Gopalakrishna has been a career Central Banker with RBI for over 33 years in various capacities and retired as Executive Director (ED) in 2014. During his stint as ED RBI, he was overseeing the Department of Banking Supervision, Dept. of Non-Banking Supervision and Foreign Exchange Department, among others. He was later appointed as Director, Centre for Advanced Financial Research and Learning (CAFRAL) promoted by RBI (2014-17). Presently, he is also on boards of a few other financial institutions and companies.
Commenting on the development, Vivek Veda, incumbent NBFC Director, said, “We are delighted to have Mr G Gopalakrishna on our Board. His strong supervisory and regulatory background and significant experience in the finance industry will help the company achieve its ambition of becoming a trusted and performance-oriented consumer lending NBFC for all associated stakeholders.”
G Gopalakrishna, Independent Director, Krazybee Services, said, “Financial inclusion in a diverse demographic in India is the need of the hour. What impresses me about Krazybee Services Private Limited is not just the social sensitivity they have showcased by extending the credit line to consumers which are underserved largely by banking institutions & traditional NBFCs, but also the austerity with which they have managed their business and operations.”
According to the statement, the other members on NBFC Board include Adesh Kumar Gupta (Non-executive), Abhishek Singhvi (Non-executive), and Madhusudan E (Executive).
KrazyBee claims it has provided credit to more than 2.2 million satisfied borrowers with the disbursement of more than ₹43 billion.
