Cashfree Payments appoints former RBI executive as Independent Director

Cashfree Payments, a leading fintech firm, has named Abhaya Hota, a former executive of the Reserve Bank of India (RBI), as an Independent Director. With over 30 years of experience in the banking and payments sector, including a notable 26-year tenure at the RBI, Hota brings extensive expertise to the table.

During his tenure as Managing Director and CEO of the National Payments Corporation of India (NPCI), Hota played a pivotal role in shaping India’s payment landscape. His contributions include the implementation of MICR technology for cheque clearing, the launch of the Unified Payments Interface (UPI), and the development of RuPay, India’s domestic credit card scheme.

In addition to his professional background, Hota holds a Bachelor of Arts in Economics, Political Science, and English Literature with honors, as well as a Master of Arts in Literature. He has served in various capacities, including as Independent Director and Board Chairman at Federal Bank, Independent Director and Chairman at NSE Clearing Limited, and Managing Director and CEO at NPCI.

Akash Sinha, Co-founder and CEO of Cashfree Payments, expressed enthusiasm about Hota’s appointment, emphasizing the valuable insights his extensive banking and finance experience will offer in terms of governance and strategic policy development. Sinha added, “Hota will be a great asset to the Board and management at Cashfree Payments.

Regarding his appointment, Hota remarked, “I am delighted to join the Board of Cashfree Payments India Pvt Ltd as an Independent Director and am eager to contribute to their growth and the expansion of India’s digital payments ecosystem.

In other recent developments, Cashfree appointed Harsh Gupta, formerly a senior vice president at Razorpay, as its new Chief Revenue Officer (CRO). According to a report by Moneycontrol, Arun Tikoo, who was appointed Chief Business Officer (CBO) in May, will lead the international business division. Alongside Tikoo’s appointment as CBO, Cashfree also announced Ramkumar Venkatesan as Chief Technology Officer (CTO).

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