Hemant Kaul joins board of Ola Financial Services

Ride hailing major Ola on Thursday said it has appointed industry veteran Hemant Kaul to the board of directors of its financial services arm -- OlaMoney.

Kaul has served as the MD & CEO of Bajaj Allianz General Insurance and was also an executive director at Axis Bank, Ola said in a release.

The company said there is a huge opportunity to create a simple, yet cutting-edge financial services and products in a young and fast-growing market like India, which is still underserved at many levels.

"Ola, as a platform... is in a very unique position to fill this gap," the release added.