Ex-Infosys CFO V Balakrishnan joins Association of NBFC P2P Platforms

Former Infosys CFO and Director V Balakrishnan has started new innings with the Association of NBFC P2P Platforms as a Patron Member. The Association of NBFC P2P Platforms has been formed by P2P lending companies to represent the Indian NBFC-P2P industry at various national as well as at international forums, said a statement by the association.

The P2P operators participating in the operations are OML P2P, Monexo, PaisaDukan, Finzy, Cashkumar, Liquiloans, Micrograam, Lendsmartp2p, Peerlend and Indiamoneymart. 

The association aims to establish formal lines of communication between various government and regulatory authorities on matter of compliance and to create awareness about the industry and to work towards enhancement of public trust in this sector, said the statement.
 
Speaking on the occasion V Balakrishnan said, “India is poised to be a USD 4-trillion economy by 2022, of which USD 1-trillion would be digital economy. Needless to say P2P lending will play a key role in digital economy of India and in financial inclusion. P2P lending industry is poised to be a $4 to $5 billion Industry by 2023."

He further said, "The association will allow the P2P Lending community to become more closely aligned with the traditional & various financial services sector and will give confidence to the firms operating in this sector that we are committed to working collaboratively on regulatory and other matters of interest.”
 
Speaking on the development, Pramod Akhramka, President of Association of NBFC-P2P Platforms and Founder & MD of OML P2P, said “Mr. Balakrishnan is renowned for his financial and business acumen. Guidance from him will be a significant development that will bolster the leadership team of the association and will help the association in getting recognition at various international forums as well as getting some strategic partnerships and collaborations with other stakeholders in the banking and finance industry.”