Reserve Bank Innovation Hub (RBIH) has appointed Rajesh Bansal as its chief executive officer, according to a notification.

Bansal was a member of the founding team of Aadhaar and previously served at the RBI in various capacities in the areas of technology, financial inclusion and payments systems.

At the Unique Identity Authority of India (UIDAI), Bansal who was assistant director general played a key role in designing India's Direct Benefits Transfer (DBT) system, especially for cooking gas and the electronic KYC (eKYC). He also led the implementation of the world's first interoperable bank agent system which has become the industry norm now and has come in handy as India navigates the Covid-19 pandemic.

He has also been a member of various committees of the RBI and the Government of India.

Bansal took over the role from May 17 and was appointed by the board of the RBIH which is headed by Infosys co-founder S (Kris) Gopalakrishnan.

The Innovation Hub was announced last year by the RBI with the aim to promote innovation across the financial sector by leveraging technology.

The Hub would develop internal infrastructure to promote fintech research and facilitate engagement with innovators and start-ups. RBIH is managed by an independent board consisting of industry and academic stalwarts as its members and is currently building its team.