Federal Bank appoints former NPCI MD A.P. Hota as new chairman

A.P. Hota, the former Managing Director and CEO of the National Payments Corporation of India (NPCI), has been appointed as the new Chairman of Federal Bank. The appointment has been approved by the Reserve Bank of India (RBI). Mr. Hota will serve as the part-time Chairman of the bank from June 29, 2023, until January 14, 2026.

Mr. Hota has been associated with Federal Bank since January 15, 2018, serving as an independent director on the bank's board. His vast experience and expertise in the financial sector, particularly in the area of digital payments, make him a valuable addition to the bank's leadership team.

About A.P. Hota

A.P. Hota is a former managing director and CEO of the National Payments Corporation of India (NPCI). He has over 30 years of experience in the banking and financial services industry. He has held senior positions at the RBI, ICICI Bank, and NPCI. He is a recipient of the Padma Shri award for his contributions to the field of payments and electronic banking.

During his tenure as the MD & CEO of NPCI, Mr. Hota played a pivotal role in driving the adoption and growth of digital payments in India. Under his leadership, NPCI launched several innovative and successful payment systems, including the Unified Payments Interface (UPI), which revolutionized digital payments in the country.

Federal Bank is one of the leading private sector banks in India, known for its strong customer-centric approach and innovative digital banking solutions. The appointment of Mr. Hota as the Chairman is expected to further strengthen the bank's position in the rapidly evolving digital banking landscape.  

About Federal Bank

Federal Bank is a private sector bank headquartered in Kerala, India. It was founded in 1931 and has a network of over 2,000 branches and 5,000 ATMs across India. The bank offers a wide range of banking products and services, including savings accounts, loans, and investments.

As the new Chairman, Mr. Hota will provide strategic direction to the bank, leveraging his extensive knowledge of the financial industry and his deep understanding of digital payment systems. His appointment reflects the bank's commitment to embracing technology and delivering superior digital banking experiences to its customers.

Federal Bank's decision to appoint Mr. Hota as the Chairman highlights the growing importance of digital payments and the bank's focus on staying at the forefront of technological advancements in the financial sector. With his leadership and guidance, the bank aims to enhance its digital capabilities and expand its range of innovative banking solutions.

Overall, the appointment of A.P. Hota as the Chairman of Federal Bank is expected to bring valuable insights and expertise to the bank, reinforcing its position as a leading player in the digital banking space and driving its growth in the coming years.