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Rajesh Bansal appointed as CEO of Reserve Bank Innovation Hub

Monetary policy normalisation may start by end of FY22
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Monetary policy normalisation may start by end of FY22

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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, an RBI spokesperson said on May 22.

Bansal 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.

Earlier, Bansal served at the RBI in various capacities in the areas of technology, financial inclusion and payment systems.

RBI has set up the RBIH with the objective to test potential new capabilities, opportunities in technology and leverage on the same to create viable products or services and enable their adoption for wider reach and greater impact across the country, the central bank spokesperson said.

The RBIH would develop internal infrastructure to promote fintech research and facilitate engagement with innovators and start-ups. RBIH is managed by an independent board consisting of industry and academic stalwarts as its members. RBIH is currently recruiting for other senior positions.

Bansal was a member of the founding team of Aadhaar where he played a key role in designing India's Direct Benefits Transfer system and electronic KYC (eKYC). He has been a member of various committees of the RBI and the Government of India.

Bansal holds a postgraduate degree from Duke University, USA. He has been awarded the prestigious Golden Jubilee scholarship by the RBI.

Dwaipayan Bhattacharjee
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