Former SEBI Chairman G N Bajpai joins Apnaloan Board
Nov 30, 2007
Apnaloan.com Services Private Limited today announced the appointment of Mr. Ghyanendra Nath Bajpai as a non-executive Independent Director on its Board. Mr. G N Bajpai was the chairman of SEBI till his retirement in 2005 and prior to that he capped his illustrious career at the Life Insurance Corporation of India (LIC) as its chairman.
Currently, Mr. Bajpai is a Member of Reserve Bank of India's (Central Bank) Standing Technical Committee on Financial Regulation and Board of Advisors of Indian Army Group Insurance Fund. He has earlier served on the on the Board of Governors of the Indian Institute of Management (Lucknow) one of the most prestigious management Institute in India, and National Insurance Academy.
Welcoming him, Mr. Harsh Roongta, Founder and Director, Apnaloan.com Services Private Limited said, "We are delighted that Mr. Bajpai has agreed to be on our board. The promise of the Apnaloan business model is to bring the benefits of a personal finance supermarket to consumers, lenders, insurance companies, and savings and investment institutions will fructify much faster with the benefit of advice and guidance from a professional of the stature and standing of Mr. Bajpai".
Mr. K P Balaraj, Managing Director of Sequoia Capital and Director Apnaloan.com said, "Mr. Bajpai transformed LIC and SEBI into companies that became global benchmarks. The same vision and drive will help Apnaloan attain world-class standards".
Mr. Bajpai said "I am happy to associate as Non-Executive Independent Director with a group of budding entrepreneurs."
G. N. Bajpai
Mr. Ghyanendra Nath Bajpai is a distinguished leader in Indian business, most recently as the Chairman of the Securities and Exchange Board of India (SEBI) and Chairman of the Life Insurance Corporation of India (LIC). Mr. Bajpai is known for his visionary leadership and exemplary integrity. He has served as non-Executive Chairman and a director on corporate boards in India and other countries, received awards for contribution to business, and authored several books. Mr. Bajpai has been Chairman of the Corporate Governance Task Force of International Organization of Securities Commissions, Insurance Institute of India & served on the Governing Boards of Indian Institute of Management, Lucknow and National Insurance Academy.
Mr. Bajpai has been a member of Board of Directors inter-alia at General Insurance Corporation of India, ICICI Bank, Unit Trust of India, UTI Bank, Tata Chemicals, Jindal Vijay Nagar Steel, Thane Electric Supply Co., National Housing Bank, Discount & Finance House, Indian Railway Finance Corporation, India International Insurance Ltd., Singapore and Ken-India Ltd. Nairobi (Africa). Mr. Bajpai was also Non-Executive Chairman of National Stock Exchange, Stock Holding Corporation of India, LIC Housing Finance Ltd, LIC Care Homes and LIC International EC Bahrain and LIC Nepal Ltd.
He has delivered lectures including at London School of Economics (LSE), Harvard University and MIT and also addressed Stanford University, OECD & IMF seminars. He has written three books: 'The Securities Market', 'Marketing of Insurances', and 'How to Become a Super Successful Salesman'.
He received among others the "Outstanding Contribution to the Development of Finance" award from Prime Minister Manmohan Singh.
About Apnaloan.com is India's first and largest personal finance supermarket. Over 350,000 consumers have purchased a loan product with the assistance of Apnaloan.com to date, and many more have used the site to make a better, more informed decision to buy a home, get a credit card or to borrow money. The company will soon be launching its insurance supermarket.
About Sequoia Capital:
As the "Entrepreneurs Behind the Entrepreneurs", since 1972, Sequoia Capital has provided startup venture capital for very smart people who want to turn ideas into companies. Sequoia Capital's Partners have worked with innovators such as Sandy Lerner and Len Bozack of Cisco Systems, Jerry Yang and David Filo of Yahoo! Gaurav Garg of Redback Networks, Larry Page and Sergey Brin of Google, Dan Warmenhoven of Network Appliance, T.J. Rodgers of Cypress Semiconductor, Lou Tomasetta of Vitesse Semiconductor, Steve Jobs of Apple Computer and Larry Ellison of Oracle. The companies organized by Sequoia Capital now account for about 10% of the value of NASDAQ. To learn more about Sequoia Capital visit "http://www.sequoiacap.com/".
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