India Post Payments Bank appoints Vodafone M-Pesa’s Suresh Sethi as MD, CEO
New Delhi: Suresh Sethi, former managing director of Vodafone M-Pesa Ltd, has been named as the managing director and chief executive officer of India Post Payments Bank (IPPB), replacing A.P. Singh, who had held the post in the interim since January 2017.
Sethi was selected by the Banks Board Bureau from among top contenders for the post, from both public and private sector banking and fin-tech professionals, said a statement from the communications ministry on Monday.
Sethi has broad international experience of over 27 years in the banking and financial services industry with Citigroup Inc., Yes Bank Ltd and Vodafone M-Pesa across India, Kenya, the UK, Argentina and the US. He has worked extensively in the financial inclusion space leveraging fin-tech and digital led innovation, added the statement.
IPPB, launched by the postal department, received the Reserve Bank of India’s final approval to commence commercial operations in January. The Centre had appointed A.P. Singh, who was earlier joint secretary in the Department of Investment and Public Asset Management, as the interim managing director and CEO of IPPB.