07 September 2012 – Prepaid International Forum (PIF) today announced the appointment of Navtej Singh, Head of Direct Payment Products at HDFC Bank as Chairman of the forum’s India Chapter with immediate effect. Mr Singh succeeds Kusal Roy, Head of Cards & Personal Loans at ICICI Bank whose annual term has come to an end.
The appointment coincides with the election of a new executive committee which is formed of bank and non-bank representatives to address the evolving needs of PIF India member organisations and the anticipated growth in the diversity of the forum’s membership in India. Under the leadership of Navtej Singh, the newly formed committee will collectively oversee the direction and scope of the forum’s working groups focused on the legal framework for prepaid in India and business value creation. The five new Office Bearers represent Axis Bank, ICICI Bank, ItzCash, State Bank of India and Visa.
Commenting on the appointments, Robert Courtneidge, Chairman and Co-Founder of the Prepaid International Forum said, “I am delighted to formally welcome Navtej Singh as Chapter Chair and the new Executive Committee members as Co-Chairs of the forum’s working groups. Mr Singh brings a wealth of industry experience to the role and has played an important role in the development of PIF India as a founding member. The new appointments will allow PIF India to benefit from a range of industry perspectives and will ensure that the interests of members are fully represented as the Chapter grows. PIF India is poised to play an increasingly important role in helping to stimulate the growth of prepaid in India. PIF looks forward to supporting Mr Singh and his forum colleagues in the year ahead”.
Navtej Singh is Head of Direct Payment Products at HDFC Bank, India’s leading private sector bank. Navtej has over 15 years of experience in Retail Branch Banking, Wealth Management, Sales, Product Management, Distribution Channels and Payment Products. Navtej has been closely associated with the Indian Payments industry for the last 5 years also working with the RBI and NPCI as a part of working groups and cards steering committees. He has also served as the Chairperson for the Legal and Regulatory Working Group of PIF India Chapter last year.
Launched in August 2009 under the patronage of one of the world’s largest companies for payment solutions, TSYS®, PIF India is composed of members both in India and those with an interest in India who are committed to promoting the relevance and benefits of prepaid as a payment solution for consumers, governments and corporates. The PIF India membership represents bank and non-bank issuers of prepaid products, card schemes and suppliers of services to the prepaid industry in India.
Amit Sethi, Managing Director, India and South East-Asia Region, TSYS and Co-Chair of PIF India said, “PIF India has become established as an effective industry body liaising with regulators, government departments and the media to promote the responsible growth of the industry. It is my pleasure to welcome Navtej Singh as PIF India Chairman and our new Executive Committee members to take the forum to the next level”.