Mr. Ajay Kumar Choudhary is a Non-Executive Chairman of the Board and Independent Director, of National Payments Corporation of India (NPCI) with effect from February 08, 2024. He is also a Non-Executive Chairman of the Boards of NPCI Bharat BillPay Ltd. and NPCI International Payments Ltd.

He is a distinguished central banker with an illustrious career spanning over three decades at the Reserve Bank of India (RBI). He concluded his dedicated service to the institution as its Executive Director in October 2023. Mr. Choudhary has a proven track record and accomplishments in the domain of Banking Regulation, Supervision and FinTech areas in various capacities.

In his multifaceted role at the RBI, Mr. Choudhary expertly navigated various responsibilities, including overseeing banking regulation and supervision, currency management, payments and settlements, and other critical functions both at the Central Office and Regional Offices. His leadership also extended to key departments such as the FinTech Department, Risk Monitoring Department, and Inspection Department. Notably, he spearheaded the RBI’s developmental and innovative
initiatives in critical areas such as the Implementation of Central Bank Digital Currency (CBDC), formulation of a strategic approach towards Crypto Assets, potential regulatory guardrails concerning Fin-Techs, operationalisation of Tech-Sprint and regulatory sandboxes, RBI Innovation Hub, and comprehensive oversight over all facets of Fin-Techs. One of Mr. Choudhary’s significant achievements was his pivotal role in the Implementation of Platform on Frictionless Credit, showcasing his forward-thinking approach to fostering innovation within the financial sector.

Mr. Choudhary represented Reserve Bank of India in different international groups and Forums. He also served as Director of Supervision of Bank of Mauritius at Mauritius, with the responsibility for regulation and supervision of Banks, Non – Bank Deposit Taking Institutions and Forex Dealers