EbixCash Private Limited, a subsidiary of fintech company Ebix Inc., has appointed ex- Reserve Bank of India (RBI) executive director Uma Shankar as a new independent director to the EbixCash board. She had retired from the central bank in 2019 as an executive director after 37 years of service.
During her RBI stint, she was the Chairperson of the Standing Committees on cyber security and data analytics and was the head of the interdepartmental group to explore the feasibility of introducing the Central Bank Digital Currency, or popularly known as CBDC. Shankar is presently an independent director on the boards of Karnataka Bank and IDBI Capital Markets and Securities Limited.
She has also been the non-executive board member on the boards of Export Credit and Guarantee Corporation of India Limited, Security Printing and Minting Corporation of India Limited, Bharatiya Reserve Bank Note Mudran Private Limited, Canara Bank and UCO Bank.
Shankar is a Certified Associate of the Indian Institute of Bankers (CAIIB) and has completed Executive Education at New York’s Columbia Business School and has a Masters in English.
According to an EbixCash release, Uma brings vast experience across areas like banking supervision, currency management, urban bank supervision, cybersecurity administration, etc., coupled with over two decades of board level experience in government and quasi-government offices. Besides Shankar, the EbixCash Board of Directors has professionals like SP Kothari, S Ravi, Sunil Srivastava, Neil Eckert and Pavan Bhalla.
Uma Shankar said that EbixCash has emerged as a strong player in the financial sector on the business-to-consumer (B2C) and the business-to-business (B2B) segments like payment solutions, prepaid cards, remittance, foreign exchange, AEPS insurance and bill payments, etc. on the B2C side and technology-based services like lending, wealth and asset management, insurance, etc. for banks and institutions.
“Having spent my entire career in the financial industry, I am well versed with the banking and BFSI industry, besides having a deep understanding of its various associated aspects like technology trends, cyber security, currency management, regulations and administration. I am delighted to join the board of EbixCash and to be able to humbly contribute to the EbixCash efforts to bring increased digitalisation to the financial industry worldwide,” she noted.
“Uma brings a deep blend of regulatory, administration, technology, strategic and corporate governance experience across the banking and financial sector to the board. She is seen as a leading luminary in the field of financial regulation, cyber security, data analytics and digital currency globally – all fields relevant to EbixCash as we embark on our global journey. We are excited to have her on the EbixCash board,” Chairman of the EbixCash board, Robin Raina said on Shankar’s appointment.
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