wordpress blog stats
Connect with us

Hi, what are you looking for?

RBI Innovation Hub Appoints Founding UIDAI Member Rajesh Bansal as CEO

The Reserve Bank of India’s Innovation Hub (RBIH) appointed Rajesh Bansal as its chief executive officer, with effect from May 17 onwards. The RBIH was set up in August last year to promote innovation across the financial sector with the help of technology.

Bansal, who was part of the founding team of the Unique Identification Authority of India (UIDAI), has advised several RBI committees in the past and has worked with the Centre in areas of technology, financial inclusion and payment systems. He played a key role in designing India’s Direct Benefits Transfer system and electronic KYC, a statement by RBIH said.

“Bansal has over 25 years of experience in designing technology-led population-scale payment products, electronic cash transfers, digital financial services, and digital IDs to enable inclusive development in India and multiple Asian and African markets,” it said.

In November last year, the RBI appointed Kris Gopalakrishnan, co-founder and former co-Chairman of Infosys Ltd, as the first chairman of the RBIH. 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 last year.

The other members of RBIH’s governing council include:

Advertisement. Scroll to continue reading.
  1. Ashok Jhunjhunwala, professor, Indian Institute of Technology, Madras
  2. H. Krishnamurthy, professor, Indian Institute of Science, Bengaluru
  3. Gopal Srinivasan, chairperson and managing director, TVS Capital Funds
  4. AP 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)

The RBI says that the RBIH will maintain an arms-length functional relationship with the central bank to ensure free play of creative forces. “The setting up of the RBIH is a continuation of the efforts of the Bank to keep up with technological evolution in the finance space, with a more active involvement and intention of shaping an organised evolution rather than passively adapting to random changes,” it said.

The release added that over time the RBIH will be the dominant centre for technological innovation with a focus on financial inclusion and promoting access to financial markets. “It would develop internal infrastructure to promote FinTech research and facilitate engagement with innovators and start-ups,” it said.

Also Read

Written By

Reports on banking, payments, fintech and crypto-curencies. Additional reporting on media regulations, data protection and other areas.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.


When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.


The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.


In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...


By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

You May Also Like


135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...


Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...


By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...


Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ