RBI Approves Federal Bank’s Appointment of AP Hota as Part-Time Chairman

The Federal Bank has announced that AP Hota has been approved by the Reserve Bank of India (RBI) to serve as the part-time chairman of the private sector bank. In a regulatory filing, the bank stated that the RBI granted its approval on June 26, 2023.

With over 27 years of banking experience in the Reserve Bank, specialising in technology and payment systems from 1982 to 2009, AP Hota is poised to assume the position of part-time chairman from June 29, 2023, to January 14, 2026. During his tenure at the Reserve Bank of India, he also served as a nominee director on the boards of Vijaya Bank and Andhra Bank. From 2009 to 2017, AP Hota played a crucial role as the architect of NPCI, where he held the positions of Managing Director and Chief Executive Officer. Furthermore, he has a master’s degree in literature from Sambalpur University and has been recognised as an Honorary Fellow of the Indian Institute of Banking and Finance. The appointment of AP Hota as an Independent Director of Federal Bank Limited commenced on January 15, 2018.