Setu co-founder Sahil Kini appointed as CEO of Reserve Bank Innovation Hub

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Sahil Kini, co-founder of fintech infrastructure firm Setu and former core member of the IndiaStack team, has been appointed as the new CEO of the Reserve Bank Innovation Hub (RBIH), according to people aware of the development.

Kini's appointment follows a months-long search that drew over 400 applicants, including senior leaders from fintechs, banks, and regulatory institutions.

The IIT Madras graduate previously worked with firms including McKinsey, Aspada Investments, and Titan before co-founding Setu in 2018. The company was acquired by Pine Labs in 2022. He was also a core team member at iSPIRIT Foundation working on the "IndiaStack" projects, including  Aadhaar and UPI

Kini takes over from Rajesh Bansal, the founding CEO of RBIH, who completed a four-year term earlier this year. During his tenure, Bansal led key initiatives including the Frictionless Credit platform and the Swanari program focused on improving financial access for women.

Set up in 2022 as a wholly owned subsidiary of the RBI, the Bengaluru-based RBIH was formed to promote innovation across financial services and enable public-private collaboration around digital infrastructure. Kini is expected to focus on expanding the hub’s partnerships, product pilots, and research across areas like inclusive credit, fraud detection, and digital financial infrastructure.