A.P. Hota, the former MD & CEO of National Payments Corporation of India (NPCI), has been appointed as Federal Bank’s chairman following approval from the Reserve Bank of India (RBI). The RBI has accorded approval for the appointment of Mr. Hota as the part-time chairman of the bank with effect from June 29, 2023 till January 14, 2026. He was serving as an independent director on the board of the bank since January 15, 2018.