Indel Money, one of India’s fastest-growing gold loan NBFCs, announced the appointment of Parvathy Sundaram, Former Executive Director at the Reserve Bank of India, and Mr. Venugopal Bhaskaran Nayar, former Managing Director of Life Insurance Corporation of India, as Independent Directors to its Board of Directors. These appointments lend significant weight to the company’s leadership and mark an important step in Indel Money’s journey of building institutional depth, strengthening governance frameworks, and enhancing business presence across its growing national footprint.
Commenting on the appointments, Umesh Mohanan, ED & CEO, Indel Money said, “We welcome Ms. Parvathy Sundaram and Mr. Venugopal Bhaskaran Nayar to Indel Money and look forward to working with them. 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.”
Sundaram brings decades of experience in banking and regulations. She began her career in commercial banking and later joined the Reserve Bank of India, where she worked in key departments across five regional offices. She was directly involved in the Asset Quality Review (2015–17), the shift to Risk-Based Supervision, and development of a framework for small foreign banks. She also contributed to the revised Prompt Corrective Action (PCA) guidelines and participated in RBI working groups on MCLR and the Public Credit Registry. She served as RBI’s nominee director on the boards of Bank of Baroda and United Bank of India. She superannuated from RBI in November 2019 and is currently on the Standing External Advisory Committee for bank licensing. She holds a postgraduate degree in Economics from Madras Christian College and is a Certified Associate of the Indian Institute of Banking and Finance.
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. He has worked across insurance, banking, and IT, with experience in both domestic and international markets. He holds a B.Com from the University of Kerala and has received training from IIMs, ISB, AIM Manila, FALIA Japan, and other institutions.
