On the opening day of the fourth edition of annual conclave, Digital Lenders’ Association of India (DLAI) today announced the appointment of ex-RBI veteran – Prem Kumar Arora as Director – Policy & Strategy.
Prem Kumar Arora is an ex- central banker with over 34 years of experience in Regulation and Supervision of Banks with Reserve Bank of India where he retired as Chief General Manager in 2016. Some of his notable projects where he has worked include – The Banking Ombudsman Scheme (2017), Formulation of banking policy for Co-operative banks (2015), Supervision and Licensing of NBFCs (2007) with onsite and off- site supervision of NBFCs.
Post retirement Mr. Arora has been actively engaged in establishment of an Umbrella Organization (UO) for Urban Co-operative Banks in India.
“DLAI members collectively serve more than 4 million borrowers in this country today and have issued loans amounting to nearly $6-7B in the financial year prior to COVID-19 pandemic. Given the sheer size of the industry, Mr. Prem Arora’s appointment will help us navigate through the challenges faced by the industry and will facilitate coordination & communication with the regulators/government bodies to help shape the broad contours of the digital lending landscape.”, said Anurag Jain, president, DLAI & Founder, KredX – India’s largest Bill Discounting Platform.
Keeping in view the larger macroeconomic changes, DLAI has lined up interactive panels, keynotes, round table and interviews in the ongoing virtual conclave to cover changes across the ecosystem that are likely to have an impact on the digital lending industry.