Ajay Kumar Choudhary Appointed Non-Executive Chairman of NPCI

The National Payments Corporation of India (NPCI) recently announced the appointment of Ajay Kumar Choudhary as its new non-executive chairman and independent director, effective February 8, 2024. Mr Choudhary, a distinguished central banker with a career spanning over three decades at the Reserve Bank of India (RBI), brings a wealth of experience and expertise to this crucial role.

A Seasoned Leader with Proven Acumen:

Prior to joining NPCI, Mr. Choudhary served as an Executive Director at the RBI, overseeing key areas like banking regulation, supervision, and fintech. He has played a pivotal role in shaping India’s financial landscape, spearheading various initiatives, including the development of the Payment System Vision 2025 and the launch of the Unified Payments Interface (UPI).

Guiding NPCI into the Future:

NPCI, established in 2008, operates and manages retail payments and settlement systems in India, encompassing iconic platforms like RuPay cards, IMPS, and UPI. Mr. Choudhary’s appointment is poised to contribute significantly to NPCI’s continued growth and innovation.

Industry Reactions and Expectations:

The appointment has been met with positive reactions from industry leaders. They commend Mr. Choudhary’s extensive experience and believe his leadership will be instrumental in driving NPCI’s vision of creating a robust and inclusive digital payments ecosystem for India.

Key Areas of Focus:

Under Mr. Choudhary’s leadership, NPCI is expected to focus on:

• Enhancing financial inclusion: Expanding access to digital payments for all, particularly underserved communities.
• Driving innovation: Fostering the development of new payment technologies and solutions.
• Strengthening security: Ensuring the safety and security of digital transactions.
• Promoting global partnerships: Collaborating with international counterparts to facilitate cross-border payments.

NPCI Static Takeaways:

• NPCI Headquarters: Mumbai, Maharashtra, India
• NPCI Foundation Year: 2008