National Payments Corporation of India (NPCI) is most likely to appoint former VISA India head Uttam Nayak as its new Chief Executive Officer (CEO). A.P Hota, the former CEO of NPCI had retired in August, this year.
Nayak is currently holding the position of Senior Vice-President of the digital department for emerging markets at Visa and was formerly appointed as the country manager for India and South Asia at the payments firm.
Dilip Asbe, the interim CEO of NPCI, may now be appointed as the deputy managing director, according to the sources.
Hota, had been the CEO of NPCI since August 2010 and led the introduction of payment initiatives such as Immediate Payment Service (IMPS) and Unified Payments Interface (UPI).
NPCI is a joint initiative of Reserve Bank of India (RBI) and Indian Banks’ Association (IBA), created to enable a firm payment infrastructure. It has 10 core promoter banks namely State Bank of India, Punjab National Bank, Canara Bank, Bank of Baroda, Union Bank of India, Bank of India, ICICI Bank, HDFC Bank, Citibank N.A. and HSBC.