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Who has been appointed (16th April 2024) by Fintech firm BharatPe as its whole-time Chief Executive Officer?
A)
Nalin Negi
B)
Ravi Singh
C)
Rajiv Sinha
D)
Suhail Sameer

Correct Answer :   Nalin Negi


Nalin Negi has been appointed as the BharatPe Chief Executive Officer over a year after taking interim charge, the fintech announced on 16th April 2024.

In January 2023, Negi was announced as the interim CEO amid a major rejig in leadership positions at the homegrown fintech. He succeeded Suhail Sameer who resigned after overseeing the firm’s operations since co-founder Ashneer Grover was ousted in 2022.

The fintech startup had then revealed that it had hired an "executive search firm" to assist with succession planning and help identify a new CEO.

The new CEO said the firm’s focus under his leadership would be on sustained profitability, scaling lending businesses, and launching new merchant-centric products.

“Nalin as interim CEO and CFO has been instrumental in showcasing substantial growth and strategic advancements across key business segments,” a statement from BharatPe stated.

As per the statement, under Negi's leadership, BharatPe clocked 182% increase in revenue from operations in FY23 and October 2023 happened to be its first earnings before interest, taxes, depreciation, and amortisation (EBITDA) positive month.

Negi joined BharatPe in 2022. He comes with over 28 years of experience in building and scaling businesses in the fintech and banking domains. “As the CEO, he will focus on leading the company into its next phase of development,” the firm said.

Rajnish Kumar, Chairman of the Board, BharatPe said Negi’s extensive experience in the fintech industry and the growth witnessed for BharatPe under his leadership, make him a natural choice to lead the company.

Before joining BharatPe, Nalin Negi held several senior leadership positions at financial service organisations including SBI Cards and GE Capital, where he played key roles in driving profitability, strategic partnerships with businesses, and steering SBI Cards IPO..

Source : CNBC18

Published On : April 16, 2024
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