RBI Deputy Governor R Gandhi (right) sits alongside Deputy Governor SS Mundra. (Photograph: Dhiraj Singh/Bloomberg)

Former RBI Deputy Governor R Gandhi Joins Paytm As Advisor

One97 Communications, which runs Paytm, has appointed former Reserve Bank of India Deputy Governor Rama Subramaniam Gandhi as an advisor.

Gandhi will bring his years of knowledge and experience on payment systems, regulations, compliance and corporate governance, the company said in a statement.

Gandhi was a member of the first monetary policy committee. He has also been the head of two regional offices of the Reserve Bank and held a charge as the Director of the Institute for Development and Research in Banking Technology, Hyderabad, it added.

Besides holding strategic roles in RBI, he had also piloted several innovative projects on IT, payment systems, financial literacy, financial inclusion and other developmental initiatives, the statement said.

"Since the beginning of our journey, we have focused on building an organisation that has the culture and the resources of serving our customers responsibly," Vijay Shekhar Sharma, Founder and chief executive officer of Paytm, said.

Gandhi, on the appointment, said, “I have dedicated my whole life to formulate policy and strengthen institutions in the financial services space. I will be happy to share my insights and guide Paytm in the creation of innovative financial services.”