RBI appoints Kris Gopalakrishnan as the first Chairperson of Reserve Bank Innovation Hub

At present, Kris Gopalakrishnan is the Chief Mentor of Startup Village, an incubation hub for startups.
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Senapathy (Kris) Gopalakrishnan, Co-founder and former Co-Chairman, Infosys, has been appointed as the first Chairperson of the Reserve Bank Innovation Hub.

In August, the central bank had announced that it will set up the Reserve Bank Innovation Hub (RBIH) to promote innovation across the financial sector by leveraging on technology and creating an environment that would facilitate and foster innovation.

The Hub will act as a centre for ideation and incubation of new capabilities that can be leveraged to create innovative and viable financial products and/or services to help achieve the wider objectives of deepening financial inclusion, efficient banking services, business continuity in times of emergency, and strengthening consumer protection, among others.

"The Reserve Bank has appointed Senapathy (Kris) Gopalakrishnan, Co-founder and former Co-Chairman, Infosys, as the first Chairperson of the RBIH," the Reserve Bank of India said in a statement on Tuesday.

At present, Gopalakrishnan is the Chief Mentor of Startup Village, an incubation hub for startups.

Senapathy Kris Gopalakrishnan

RBIH would be guided and managed by a governing council led by a chairperson, the central bank said.

Other members of the governing council are CEO (to be appointed), Ashok Jhunjhunwala (Institute Professor, IIT, Madras); H Krishnamurthy (Principal Research Scientist, IISc, Bengaluru); Gopal Srinivasan (CMD, TVS Capital Funds); A P Hota (former CEO, NPCI); Mrutyunjay Mahapatra (former CMD, Syndicate Bank); T Rabi Sankar (Executive Director, RBI); Deepak Kumar (CGM, Department of Information Technology, RBI); and K Nikhila (Director, Institute for Development and Research in Banking Technology, Hyderabad).

The RBIH shall create an ecosystem that would focus on promoting access to financial services and products, RBI said, adding, "this will also promote financial inclusion."

The Hub will collaborate with financial sector institutions, technology industry, and academic institutions, and coordinate efforts for exchange of ideas and development of prototypes related to financial innovations.

It would also develop internal infrastructure to promote fintech research and facilitate engagement with innovators and startups.

(Disclaimer: Additional background information has been added to this PTI copy for context)

Edited by Suman Singh