Full-stack payments and banking platform Razorpay on Tuesday announced that it has set up an advisory board to strengthen corporate governance, with former RBI deputy governor N.S. Vishwanathan as Chairperson.

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The company appointed Arijit Basu, former managing director, State Bank of India; former telecom secretary Aruna Sundararajan; and K.P. Krishnan, former secretary, Ministry of Skill Development and Entrepreneurship as members of the advisory board.

All the members will periodically convene to review, analyse and provide recommendations and directions on both strategic and tactical levels.

"Now in our next phase of growth as India`s leading end-to-end money movement platform for businesses, we have a strong intent to put in place further systems to uphold the highest standards of customer- experience and governance," said Harshil Mathur, CEO and Co-founder at Razorpay.

"It is pertinent that companies like ours are future-ready and agile to adapt to the ever-changing fintech environment," he added.

Razorpay is currently serving over 10 million businesses across the country.

The advisory board will assist Razorpay in developing long-term strategies, anticipating challenges and suggesting mitigation measures.

"This is an important step in promoting a culture of responsible innovation, something imperative for the development of a more sustainable and inclusive financial system for all," said Vishwanathan.

The advisory board will also help contribute to the development of Razorpay`s payment infrastructure and help engage with key institutions and stakeholders, said the company.