Sahil Kini, a prominent figure in the Indian fintech sector, has been named as the new CEO of the Reserve Bank Innovation Hub (RBIH). This appointment comes after an extensive selection process that attracted over 400 applicants for the position. The RBIH plays a crucial role in the Reserve Bank of India’s efforts to enhance financial technology innovation in the nation.
Leadership Change at RBI Innovation Hub
Sahil Kini succeeds Rajesh Bansal as the CEO of RBIH, who served as the inaugural CEO for four years. During Bansal’s tenure, the hub introduced significant initiatives such as the Frictionless Credit platform and the Swanari program, focusing on enhancing financial services accessibility for women. Kini’s appointment signifies a new chapter emphasizing partnership expansion, experimentation with novel concepts, and enhancement of digital financial resources.
About Sahil Kini
- Sahil Kini is an alumnus of IIT Madras.
- He has worked with renowned organizations like McKinsey, Aspada Investments, and Titan.
- In 2018, Kini co-founded Setu, a fintech firm acquired by Pine Labs in 2022.
- He played a pivotal role at the iSPIRIT Foundation, contributing to the development of significant digital projects in India like Aadhaar and UPI.
What is RBI Innovation Hub (RBIH)?
The RBI Innovation Hub, established in 2022 as a subsidiary of the Reserve Bank of India situated in Bengaluru, aims to foster innovation in financial services and facilitate partnerships among government entities, banks, startups, and tech firms. The hub focuses on critical areas such as inclusive lending, fraud prevention, and enhancement of digital financial infrastructure. Kini is set to continue and broaden the hub’s impactful initiatives.
Key Takeaways for Competitive Exams
- Sahil Kini appointed as the new CEO of RBI Innovation Hub, succeeding Rajesh Bansal.
- Kini’s background includes roles at McKinsey, Aspada Investments, and Titan, along with co-founding Setu.
- RBI Innovation Hub aims to boost financial technology innovation in India through collaboration and initiatives.
- The hub focuses on inclusive lending, fraud prevention, and digital financial infrastructure enhancement.
