Mumbai: The National Payments Corporation of India (NPCI) has announced the formation of NPCI Tech Solutions Limited (NTSL) as its wholly owned subsidiary and appointed Vishal Kanvaty as the Managing Director and Chief Executive Officer (MD & CEO) of the newly established company.
Vishal Kanvaty will lead NTSL as it takes on the role of the technology and innovation arm of the NPCI Group.
The subsidiary has been established to develop capabilities beyond NPCI’s core payments mandate, with a focus on Artificial Intelligence (AI), Blockchain and Digital Financial Infrastructure, and Global Capability Centre (GCC) services.
Through NTSL, NPCI aims to expand its technology initiatives across emerging technology domains.
The subsidiary will also provide technology services for eKYC Setu, Unified Ticketing Platform (UTP) and other Digital Public Infrastructure (DPI) programmes, supporting the expansion of the NPCI Group’s technology capabilities.
Vishal Kanvaty’s Role at NPCI Tech Solutions Limited
Vishal Kanvaty, who has been associated with NPCI for nearly a decade, has led the development and commercialisation of several market innovation platforms.
These platforms now form part of NTSL’s focus areas.
As the MD & CEO of NPCI Tech Solutions Limited, Vishal Kanvaty will lead the company’s efforts to build capabilities across emerging technology domains, including Artificial Intelligence, Blockchain, Digital Financial Infrastructure and GCC services.
His appointment comes alongside NPCI’s decision to establish a dedicated subsidiary focused on technology and innovation beyond its traditional payments mandate.
Dilip Asbe on the Formation of NPCI Tech Solutions Limited
Dilip Asbe, Managing Director & CEO of NPCI, said: “Technology has been at the core of NPCI’s journey and its contribution to India’s digital transformation.
As we look ahead, advancements in Artificial Intelligence and other emerging technologies are creating new possibilities across digital infrastructure and financial services.
NTSL has been established to focus on these opportunities and further strengthen the NPCI Group’s technology capabilities. We are pleased to have Vishal lead NTSL and are confident that his experience and leadership will guide its growth and future direction.”
With the establishment of NPCI Tech Solutions Limited and the appointment of Vishal Kanvaty as its MD & CEO, NPCI is creating a dedicated technology and innovation arm to expand its presence across emerging technology domains and Digital Public Infrastructure initiatives.
