NPCI appoints Dilip Asbe as MD & CEO
Dilip Asbe, COO of NPCI, has been appointed its MD and CEO, replacing A.P.Hota, who retired in August
New Delhi: Dilip Asbe, chief operating officer of the National Payments Corporation of India (NPCI), has been appointed its managing director (MD) and chief executive officer (CEO), replacing A.P.Hota, who retired in August.
Hota, the first MD and CEO of NPCI, assumed office in August 2010. After his retirement, NPCI appointed Asbe as the CEO in-charge.
Asbe has led the introduction of digital payment systems such as the unified payments interface (UPI) since NPCI was set up in 2009.
NPCI, an umbrella organisation overseeing retail payments and settlement systems in India, is an initiative of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA), created to help build a strong payment infrastructure. Its 10 core promoter banks are State Bank of India, Punjab National Bank, Canara Bank, Bank of Baroda, Union Bank of India, Bank of India, ICICI Bank Ltd, HDFC Bank Ltd, Citibank N.A. and HSBC Holdings Plc. Last year, it expanded shareholding to 56 member banks.
The NPCI CEO’s role is influential in India’s ongoing push to expand digital payments.
NPCI is working along with the government to promote a less-cash economy. It also runs the popular Bharat interface for money (BHIM) app which has been downloaded more than 21.65 million times on the Android platform and around 1.03 million on the iOS platform. According to NPCI, around 9 million transactions took place on the BHIM app in December.
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