Indel Money inducts ex RBI ED, LIC MD into its board 

Indel Money, a gold loan NBFC, has announced the appointment of Parvathy Sundaram, Former Executive Director, Reserve Bank of India (RBI) , and Venugopal Bhaskaran Nayar, former Managing Director of Life Insurance Corporation of India (LIC), as Independent Directors on its Board. 

Umesh Mohanan, ED & CEO, Indel Money, said, “Their wealth of experience in regulatory and financial services will be instrumental as we chart our next phase of growth and continue building leadership in core retail, secured asset categories.”

Ms. Sundaram was directly involved in the Asset Quality Review (2015–17), the shift to Risk-Based Supervision, and the development of a framework for small foreign banks at the RBI. She also contributed to the revised Prompt Corrective Action (PCA) guidelines and participated in RBI working groups on MCLR and the Public Credit Registry.

Mr. Nayar has over 38 years of experience in financial services, including 36 years with LIC. He retired as Managing Director in May 2019. Since retirement, he has served as an Independent Director at SBI Life Insurance and on the boards of institutions including SBI (as an Independent Director till 2024), NCDEX, LIC Nepal, LIC Bangladesh, and LIC International.