National Payments Corporation of India (NPCI) announces the appointment of Sohini Rajola as the new executive director in charge of growth for the retail payments body. 

Sohini’s recent experience was as the Asia Pacific head with international remittance major Western Union. Before working at Western Union, Rajola was with Axis for more than a decade as the head of digital banking and cards. She will now be responsible for driving the adoption of NPCI’s payment solutions across the country.

In her new role, Sohini is set to lead business development, and the go-to-market plans of the organization. She will also be responsible for managing strategic alliances and partnerships with banks, fintech firms, government authorities and regulatory institutions.

NPCI has been expanding its scope of operations by spinning off new entities and appointing chief executives for each of these businesses. The payments body has grown NPCI Bharat BillPay, NPCI International and BHIM into separate entities, each with their own CEO and business targets.

 

Last November, Praveena Rai who was the chief operating officer of NPCI, stepped down to assume the role of chief executive officer at the Multi Commodity Exchange of India.

 

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The NPCI is a crucial organization in India's digital payment ecosystem. It was established in 2008, and operates as parent organization for retail payments and settlement systems in the country. It has introduced several innovative payment solutions, including, “Unified Payments Interface, RuPay, Immediate Payment Service, and Bharat BillPay. NPCI's mission is to make digital payments accessible, secure, and efficient for everyone in India. In the financial year 2024, NPCI reported a total revenue of Rs 3,278 crore and a revenue surplus of Rs 1,134 crore.