Former MD of Vodafone M-Pesa Ltd Suresh Sethi was on 23 October 2017 appointed as the Managing Director (MD) and Chief Executive Officer (CEO) of India Post Payments Bank (IPPB).
Sethi succeeds AP Singh, who had been serving as the interim MD & CEO of IPPB since January 2017.
Sethi was selected by the Banks Board Bureau from amongst top contenders from both public and private sector Banking and Fintech professionals.
About Suresh Sethi
• Suresh Sethi has broad international experience of over 27 years in the banking and financial services industry.
• Sethi has worked with various renowned organisations and banks like YES Bank, Vodafone M-Pesa and Citigroup across India, Kenya, UK, Argentina and US.
• He has extensively worked in the Financial Inclusion space leveraging Fintech and digital led innovation.
• His experience in the Digital & Mobile Payments space will be of great help to IPPB which aims to deliver financial inclusion with special focus in rural and semi-urban India.
About India Post Payments Bank (IPPB)
• IPPB was incorporated as a Public Limited Company under the Department of Posts.
• IPPB received the Reserve Bank of India’s final approval to commence commercial operations in January 2017.
• IPPB plans to leverage the unparalleled reach of the India Post network to achieve a Pan India roll out of 650 branches by 2018.