OYO Hotels and Homes announced that it has appointed former Chairman of State Bank of India (SBI) Rajnish Kumar, as Strategic Group Advisor. Mr. Kumar, who has spent over 40 years in the financial sector, will play a key role in advising the management on short term and long term strategy, regulatory and stakeholder engagements, and enhancing its brand globally.

Mr. Kumar joined the Bank as a probationary officer in 1980 and retired as a Chairman in October 2020 after a distinguished career of 40 years in the bank. He is credited with steering the bank through one of the most difficult periods. YONO, the digital banking platform was built from scratch under the guidance of Mr. Kumar. He is currently on the Boards of HSBC Asia Pacific, L&T infotech, Hero Motocorp and BharatPe.

Ritesh Agarwal, Founder & Chairman, OYO, said: “We are delighted to welcome Mr. Rajnish Kumar as a Strategic Group Advisor at OYO. He is a veteran in the financial services sector. It is great to have him work closely with our Board and the Management. His leadership lessons and professionalism is an inspiration. As we look to empower our hotel and home partners, or Patrons, as we call them, through technology, and enable our global network of customers to book and stay in affordable and trusted accommodations through a seamless digital experience; we are fortunate to have Mr. Kumar steer us on our mission. Technology innovations are exciting for both Mr. Kumar and us at OYO. His experience of digitization and technology led initiatives for the customers is critical for us as we make a difference to our stakeholders’ lives.”

Commenting on his appointment, Mr. Rajnish Kumar said: “Ritesh, a first generation entrepreneur and his team have created a unique technology platform to make OYO a household name in the travel sector. I have always been excited about the startups which are bringing a revolutionary change in the Indian economy. Looking forward to working closely with Ritesh and his team in creating value for all stakeholders.”

Earlier, OYO also announced Dr. Deepa Malik joining the Board of Directors as an Independent Director.