DLAI appoints former RBI executives to Advisory Council

DLAI Appoints RBI exec. for its advisory counsil

The Digital Lenders Association of India (DLAI), the industry body representing lenders and lending fintechs, has announced the induction of three former Reserve Bank of India (RBI) executives, Dr. Sathyan David, SN Panda, and.Alpana Killawala into its Advisory Council.

"The addition is will enhance DLAI’s mission of fostering responsible fintech practices in India...Their collective experience and expertise will be instrumental in guiding the sector especially at a time when DLAI aspires for RBI’s recognition as SRO-FT (Self-Regulatory Organisation(s) in the FinTech Sector)," said Jatinder Handoo CEO of DLAI.

DLAI is an industry body that represents over 80 digital lending firms in India, as per the industry body's website. It was formed in 2016 by digital lending firms to support responsible and inclusive growth of the digital lending sector and make policies and guidelines around the digital lending business.

The growing fintech and digital lending industry will soon get a self-regulatory organisation (SRO). An SRO is a non-governmental organisation (NGO) that sets monitoring standards for industry players and works as a bridge between the industry and the regulator.

Dr. Sathyan David, served as the Chief General Manager (Supervision) at RBI, Alpana Killawala was the former Principal Advisor, Department of Communication at RBI, and SN Panda was the former Chief General Manager at RBI.

In November 2023, DLAI appointed Meena Hemachandra, former executive director, Reserve Bank of India (RBI), and Alok Prasad, former chief executive officer (CEO), MFin, as its Independent Directors to its board.