The Board of Reserve Bank Innovation Hub (RBIH) has appointed Rajesh Bansal as the chief executive officer (CEO) of the RBIH with effect from May 17, 2021.
About Rajesh Bansal:
i.Rajesh Bansal was a member of the founding team of Aadhaar who played a key role in designing India’s Direct Benefit transfer system, particularly for cooking fuel and electronic KYC(e KYC).
ii.He has been awarded the prestigious Golden Jubilee scholarship by the RBI.
iii.Earlier he has also served in the areas of technology, financial inclusion and payment systems in RBI.
iv.He is an expert in electronic cash transfers and digital financial services and has over twenty five 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.
About Reserve Bank Innovation Hub (RBIH):
The board of the RBIH which is headed by Infosys co-founder S (Kris) Gopalakrishnan.
Aim:
Leveraging technology to drive innovation across the financial sector.
Key Points:
- The Reserve Bank Innovation Hub would develop internal infrastructure to promote fintech research and facilitate engagement with innovators and start-ups.
- The Hub works on developing core capabilities in the fields like information security,analytics and electronic payments.
- It also builds partnership across regulators and government ministries for system-wide innovation.
Recent Related News:
i.RBI Fixed the WMA limit to Rs 1.2 lakh Crore for the 1st Half of FY22.
ii.RBI Extended the Timeline for AFA Norms on e-Mandate to September 30,2021.
About Reserve Bank of India(RBI):
Establishment – 1st April 1935
Headquarters – Mumbai, Maharashtra
Governor – Shaktikanta Das
