– Ex-RBI officer Mr. Ajaya Kumar Sahoo to be Board Advisor
– Key appointments reinstate Tide’s commitment to driving sustainable, compliance-first
business growth
Delhi, 30th September 2024: Tide India, a leading business financial platform for MSMEs,
today announced the appointment of former IAS officer Mr. Srinivas Injeti as Non-Executive
Director and Chairperson of its Board. Ex-RBI officer Mr. Ajaya Kumar Sahoo has also been
appointed as Senior Advisor to the Board. These appointments support Tide’s commitment to driving sustainable, compliance-first business growth, as the company continues to build simple and powerful tools to help small businesses start and grow their business.
Mr. Injeti brings expertise in regulatory frameworks, economic reforms, and financial oversight through his work of over four decades across various ministries in the Government of India. A 1983-batch IAS officer, he has been the first Chairperson of the International Financial Services Centres Authority (IFSCA). He also served as a director on the LIC Board and in his role as an ex-officio member of SEBI.
As Director FIPB (Foreign Investment Promotion Board) in the Government of India, Mr. Injeti played a pivotal role in landmark reforms, including the liberalisation of the Foreign Direct Investment (FDI) policy and industrial policy reform. In his role as a Union Secretary to the Government of India in the Ministry of Corporate Affairs, he was instrumental in driving implementation of the Insolvency and Bankruptcy Code (IBC), and strengthening the regulatory framework for independent directors.
Mr. Injeti’s contributions have reshaped the governance landscape, from deregistering shell
companies to setting up the National Financial Reporting Authority (NFRA). He also held
positions as Industries Secretary in the Government of Odisha, Additional Chief Secretary in charge of infrastructure development in Odisha, Chairperson of the National Pharmaceuticals Pricing Authority at the Centre, and the Union Sports Secretary & Director General, Sports Authority of India.
Mr. Ajaya Kumar Sahoo, a former senior Reserve Bank of India (RBI) officer with nearly four decades of experience, brings expertise in financial regulation, strategic management and regulatory compliance. At RBI, he played a critical role in overseeing licensing and inspections of Non-Banking Financial Companies (NBFCs), Asset Reconstruction Companies (ARCs), and banks. During this tenure, he has worked in various departments such as Deposits Account Department, Currency Verification and Processing System, National Clearing Cell, Rural Planning and Credit Department.
Gurjodhpal Singh, CEO, Tide India said, “We are happy to welcome Mr. Srinivas Injeti and
Mr. Ajaya Kumar Sahoo to our team. Their unparalleled expertise in regulatory frameworks and financial services will enhance our strategic decision making capabilities, while aligning with our compliance-first approach. With their presence, we will continue to enhance financial inclusion for MSMEs. Together, we are committed to empowering small businesses and contributing to India’s socio-economic growth.”
Mr. Injeti brings extensive experience and knowledge in the financial services domain and has been a key contributor to the sector's evolution. His expertise will be invaluable in strengthening Tide’s position within India’s evolving fintech ecosystem and ensuring the company remains ahead in the dynamic regulatory landscape.
Mr. Srinivas Injeti said: “I am delighted to join Tide in India and collaborate with its leadership team to address the key challenges faced by MSMEs. I fully align with Tide’s vision that growth must not come at the expense of compliance. Together, we will work to unlock India’s next phase of growth by digitally empowering Bharat.”
Mr. Sahoo will focus on enhancing corporate governance, developing key partnerships, and
ensuring robust operational practices that drive growth and transparency within the
organisation.
Mr. Ajaya Kumar Sahoo said: “I am excited to join Tide in India at a time when fintech
innovation is transforming the financial services landscape in India. The regulatory environment in the world’s third largest fintech ecosystem is evolving to promote responsible innovation. I look forward to contributing to the company's vision as it continues to leverage technology to help small businesses become part of the formal economy.”
