Bharat pe

BharatPe, which is doing an independent audit of the company's internal processes and systems after the controversy erupted over Grover allegedly using inappropriate language against Kotak Mahindra Bank's staff, said that the reports suggesting any termination are baseless and untrue. "The Board remains committed to an independent and thorough audit process.

The unverified audio clip went viral this week allegedly over the non-allocation of shares in fashion e-commerce firm Nykaa that recently went public. The viral audio was posted by an anonymous handle along with the tweet: "how rich founders treat poor bank employees".

An official statement said that BharatNet will now extend up to all inhabited villages beyond Gram Panchayats (GPs) in these states -- Kerala, Karnataka, Rajasthan, Himachal Pradesh, Punjab, Haryana, Uttar Pradesh, Madhya Pradesh, West Bengal, Assam, Meghalaya, Manipur, Mizoram, Tripura, Nagaland, and Arunachal Pradesh. An estimated 3.61 lakh villages including GPs will be covered.

Prior to joining BharatPe, Kaushik was the CEO and MD of PAYBACK India where he led the largest customer loyalty programme in the country. A veteran in leading successful multi-million dollar businesses in payments and financial services, he will work with Ashneer Grover, Co-Founder and CEO of BharatPe, and lead payments and banking partnerships.

The company raised Rs 90 crore in debt from Alteria Capital and Rs 49 crore from ICICI Bank. The company has raised a total of Rs 199 crore in debt to date. The company is disbursing loans of Rs 200 crore per month to merchant partners currently and has set a target of disbursing Rs 1,000 crore of loans in the FY21.