National Payments Corporation of India (NPCI), the umbrella organisation for all retail payment systems in the country, has appointed B Sambamurthy as interim Chairman of the board.

According to a NPCI statement, he will replace M Balachandran, who was Non-Executive Chairman of NPCI from September 23, 2013 till September 20, 2017.

Sambamurthy was formerly Director and CEO of the Institute for Development and Research in Banking Technology (IDRBT) and Chairman and Managing Director of Corporation Bank prior to that.

He has been the nominee director from the Reserve Bank of India (RBI) on the board of NPCI since December 5, 2013.

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