Suresh Sethi named Visa Group Country Manager for India and South Asia
Visa Inc. appointed Suresh Sethi as Group Country Manager for India and South Asia. The new role is based in Mumbai and covers operations across India, Bangladesh, Sri Lanka, Nepal, Maldives and Bhutan. The appointment aims to accelerate digital payments expansion and fintech innovation in the region, leveraging Sethi’s experience in public digital infrastructure and financial technology. He will report to the Regional President for Asia Pacific. The move aligns with efforts to boost financial inclusion, strengthen payments ecosystems and support private‑public collaborations across the region.
Suresh Sethi named Visa Group Country Manager
Based in Mumbai; oversees India and South Asia
Regions include India, Bangladesh, Sri Lanka, Nepal, Maldives, Bhutan
Aims to accelerate digital payments and fintech growth
Reports to Asia Pacific Regional President
MobiKwik gets RBI NBFC licence; to expand lending
One MobiKwik Systems received Reserve Bank of India approval for a non‑banking financial company (NBFC) licence. The RBI clearance enables direct lending and the launch of a dedicated lending arm, MobiKwik Financial Services Private Limited (MFSPL). The development marks a shift from payments to a broader financial services platform and is expected to expand its credit offerings for consumers and merchants. Regulators see the move as strengthening the fintech ecosystem, with MobiKwik planning new lending products and partnerships in 2026, subject to regulatory norms and consumer protection standards.
RBI approves MobiKwik NBFC licence
Formation of MobiKwik Financial Services Private Limited
Direct lending capability enabled
Strategic shift from payments to broader finance
Regulatory and consumer protection considerations
India–New Zealand Free Trade Agreement signed at Bharat Mandapam
India and New Zealand signed the India–New Zealand Free Trade Agreement at Bharat Mandapam, New Delhi. The signing was led by Union Commerce Minister Piyush Goyal and NZ Trade Minister Todd McClay. The FTA aims to deepen bilateral trade, investment and governance openness. Key terms include zero‑duty access for a large majority of Indian exports to New Zealand, expanded market access for NZ goods, and enhanced service sector opportunities across 118 sectors. The pact also introduces a visa pathway for 5,000 Indian professionals to stay up to three years, reflecting a broader push to expand mobility and skilled work across the region.
Visa pathway for 5,000 Indian professionals (up to 3 years)
PhonePe first UPI app to cross 10 billion monthly transactions (March 2026)
PhonePe reportedly became the first Unified Payments Interface (UPI) app to cross 10 billion monthly transactions in March 2026. The milestone reflects rapid growth of digital payments in India and the rising adoption of UPI across merchants and consumers. Market analysts note the trend strengthens financial inclusion, supports e‑commerce, and raises the importance of secure, scalable payment rails. Regulators and industry players continue to monitor transaction costs, data privacy and user protection as digital wallets compete for market share in a maturing payments ecosystem.
PhonePe crosses 10 billion monthly UPI transactions in March 2026
Indicator of rapid digital payments growth
Impacts include financial inclusion and e‑commerce support
Regulatory focus on costs, privacy and security
Signifies rising competition in the UPI space
VJaitra Air Mobility, Jio-bp sign MoU to build electric and hydrogen air taxi infrastructure in I...
VJaitra Air Mobility, based in Noida, has entered a partnership with Jio-bp to develop electric and hydrogen-powered air taxi infrastructure in India. The memorandum of understanding aims to accelerate sustainable urban air mobility by integrating charging and refuelling systems into existing networks. Under the agreement, Jio-bp will design networks for electric charging and hydrogen refuelling and integrate vertiports with its fuel-station network to create a seamless ecosystem for electric vertical take-off and landing aircraft. The plan targets longer-range, zero-emission urban air taxis and envisions scalable deployment nationwide. The collaboration supports India's push for green mobility and indigenous aviation capabilities, aligning with national energy and transport goals.
MoU between Noida-based VJaitra Air Mobility and Jio-bp to develop air taxi infrastructure.
Focus on electric charging and hydrogen refuelling networks with vertiport integration.
Aims to create a nationwide, seamless ecosystem for VTOL aircraft.
Targets longer-range, zero-emission urban air taxis and scalable deployment.
Supports India’s green mobility and indigenous aviation initiatives.
Apr 28, 2026
Parminder Singh appointed CEO of Reliance Enterprise Intelligence Limited
Parminder Singh has been appointed Chief Executive Officer of Reliance Enterprise Intelligence Limited (REIL). The appointment signals India’s push toward enterprise-scale artificial intelligence adoption across sectors. Mr. Singh brings leadership experience from major global tech firms and has previously held senior roles at Google, Apple, Twitter and IBM. He also served as Chief Commercial and Digital Officer at Mediacorp and founded AI ventures such as ClayboxAI and WeKamp. In his new role, he will lead the company’s AI strategy, product development and cross‑industry implementation, aiming to accelerate digital transformation for Indian enterprises while expanding REIL’s global footprint and capabilities.
Parminder Singh named CEO of Reliance Enterprise Intelligence Limited (REIL).
Background includes senior roles at Google, Apple, Twitter and IBM; founder of ClayboxAI and WeKamp.
Role focuses on accelerating enterprise AI adoption and cross‑industry AI deployments.
Apr 27, 2026
Dabur appoints Herjit S Bhalla as India Business CEO; effective 23 April 2026
Dabur has named Herjit S Bhalla as Chief Executive Officer of its India Business, with effect from 23 April 2026. Bhalla will report to Mohit Malhotra, Whole‑time Director and Global CEO. Bringing over 25 years of global experience, Bhalla previously spent 16 years at Unilever starting in 2000. His appointment comes as Dabur navigates a rapidly evolving FMCG sector driven by digital channels and rural market growth. Bhalla is expected to drive domestic growth, sharpen market positioning, and oversee sales, marketing, and operations, leveraging his international perspective to enhance competitiveness in the Indian market.
Herjit S Bhalla appointed India Business CEO
Effective 23 April 2026; reports to Mohit Malhotra
Over 25 years of global experience; 16 years at Unilever
Role focuses on domestic growth, brand expansion, and operations
Aims to leverage digital expansion and rural market growth
Apr 26, 2026
Vivek Tripathi named ED & WTD at AU Small Finance Bank; RBI gives nod
The Reserve Bank of India has approved the appointment of Vivek Tripathi as Executive Director of AU Small Finance Bank for a three-year term. He will also take charge as Whole-time Director after shareholders approve the appointment, with effect from 24 April 2026. Tripathi is an experienced banker, currently Chief Credit Officer at AU Small Finance Bank, and has been with the bank since 2014. He played a key role in building the bank’s credit framework and risk management. His leadership is expected to strengthen governance and growth in the bank’s lending activities.
RBI approves Vivek Tripathi as ED of AU Small Finance Bank
Three-year term; WTD on shareholder approval
Tenure starts 24 April 2026
Tripathi previously Chief Credit Officer
Joined AU SFB in 2014; helped build credit framework
Focus on governance and risk management
Apr 23, 2026
L&T signs green ammonia supply deal with Japan’s Itochu
Larsen & Toubro (L&T) has signed a long-term agreement with Japan’s Itochu Corporation for the annual supply of 300,000 tonnes of green ammonia. The deal will be executed through L&T Energy GreenTech and supports India’s clean energy export ambitions. Green ammonia is produced using renewable energy-generated hydrogen and is considered a key low-carbon fuel for shipping and other sectors. The arrangement advances India’s energy export strategy and strengthens bilateral ties in clean energy, aligning with broader government goals to expand renewable capacity, reduce emissions, and develop infrastructure for green hydrogen and its derivatives.
Deal: 300,000 tonnes of green ammonia annually
Partnership between L&T and Itochu Corporation
Supply from Gujarat via L&T Energy GreenTech
Supports India’s green energy export goals
Green ammonia produced from renewable energy
Aims to decarbonize shipping and industry
HDFC Life reappoints Vibha Padalkar as MD & CEO for five-year term
HDFC Life Insurance Company Limited announced that its board, on 21 April 2026, approved the reappointment of Vibha Padalkar as managing director and chief executive officer for another five-year term. The decision aims to ensure continuity of leadership during a dynamic period for the Indian insurance sector. The term extends to 21 April 2031, subject to approval by shareholders at the upcoming annual general meeting and clearance from the Insurance Regulatory and Development Authority of India (IRDAI). The company emphasized that the reappointment will maintain strategic direction, governance standards, and ongoing initiatives in product development, distribution expansion, and risk management.
Board approval date: 21 April 2026
Reappointment as MD & CEO for five years
Term ends 21 April 2031
Subject to shareholder approval and IRDAI clearance
Aims to ensure leadership continuity
Supports growth in product and distribution strategies
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