Centre has appointed J Venkatramu as the new managing director (MD) and chief executive officer (CEO) of India Post Payments Bank for a tenure three years.
Venkatramu holds more than two decades of work experience across banking services namely payments, mobile banking, retail banking products and has also managed digital financial services projects.
Prior to the appointment, he was appointed as the chief digital officer at Equitas Small Finance Bank.
“The Appointments Committee of the Cabinet has approved the proposal of the department of posts for appointment of J Venkatramuto the post of Managing Director and Chief Executive Office, India Post Payments Bank for a period of three years from the date of assumption of the charge of the post, or till the date of his superannuation, or until further orders, whichever is the earlier,” said the official communiqué.
At India Post, Venkatramu will succeed Suresh Sethi who had served as founder MD and CEO of the payments banks till March.
India Post Payments Bank is a centre-owned entity under the department of posts, with 100% government equity and is governed by the Reserve Bank of India (RBI).
India Post Payments Bank was launched by Prime Minister Narendra Modi in September, 2018 to offer doorstep banking to customers, mainly in rural areas.