The Reserve Bank of India (RBI) has appointed Kris Gopalakrishnan, co-founder and former co-Chairman of Infosys Ltd, as the first chairman of the Reserve Bank Innovation Hub (RBIH), the central bank announced on Tuesday. The RBIH will collaborate with financial sector institutions, technology industry and academic institutions to excahnge ideas and develop prototypes related to financial innovations. “It would develop internal infrastructure to promote fintech research and facilitate engagement with innovators and start-ups,” the RBI said.

In August this year, the RBI had announced that it would set up an innovation hub to “promote innovation across the financial sector by leveraging on technology and create an environment which would facilitate and foster innovation,” it said.

While a chief executive officer for the RBIH is yet to be appointed, Gopalakrishnan has been appointed as the chairperson of the RBIH’s governing council. Other members appointed include:

  1. Professor Ashok Jhunjhunwala, Indian Institute of Technology, Madras
  2. Professor H. Krishnamurthy, Indian Institute of Science, Bengaluru
  3. Gopal Srinivasan, chairperson and managing director, TVS Capital Funds
  4. A.P. Hota, former CEO, National Payments Corporation of India (NPCI)
  5. Mrutyunjay Mahapatra, former CMD, Syndicate Bank
  6. T. Rabi Sankar, executive director, RBI (ex-officio)
  7. Deepak Kumar, chief general manager, Department of Information Technology, RBI (ex-officio)
  8. K. Nikhila, director, Institute for Development & Research in Banking Technology, Hyderabad (ex-officio)

Gopalakrishnan is currently the chief mentor of Start-up Village, a start-up incubator. He is also the chairperson of a Ministry of Electronics and Information Technology expert committee on non-personal data, which submitted its report on non-personal data governance in July this year.