Retail payments regulator National Payments Corporation of India (NPCI) is in the process of spinning off Bharat Interface for Money (BHIM) into a subsidiary as the home-grown payments application looks to expand its presence in the country, industry sources said.
The NPCI has appointed Lalitha Nataraj the chief executive officer (CEO) of the new subsidiary, the sources added. Nataraj previously worked with IDFC FIRST Bank and ICICI Bank.
“BHIM will become a separate entity. There will be more focus on growing it as a payments application. Both the government and the Reserve Bank of India are keen on
