Ahead of India IPO, EbixCash appoints S Ravi to board of directors, ET TravelWorld

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Charting the road ahead towards a prospective India IPO, EbixCash, a subsidiary of Ebix Inc, a leading international supplier of on-demand software and e-commerce services, has announced the appointment of S Ravi, as a new independent director to the EbixCash Board.

Having served earlier as the Chairman of Bombay Stock Exchange (BSE), Ravi has a vast repertoire of experience across banks, financial institutions, insurance companies, tourism industry, stock exchanges and asset management areas.

Presently serving as the Chairman and Director of Tourism Finance Corporation of India, a government-owned financial Institution to promote tourism in India, Ravi also serves on the boards of Aditya Birla Health Insurance Company, Star Union Dai-ichi Life Insurance Company, Aditya Birla ARC, IIFL Asset Management and SBI Payment Services.

He has also been the Chairman of UTI Trustee Company, one of India’s largest mutual funds and was also appointed by Government of India and Reserve Bank of India (RBI) as Chairman of the Technical Experts Committee for Punjab & Sind Bank’s strategic turnaround.

Nominated as member of the Takeover panel of the Security & Exchange Board of India (SEBI), besides serving on its Mutual Fund Advisory Committee, Ravi has also served on India’s Insurance Regulatory Development Authority (IRDA) as a member of its Insurance Advisory Committee.

Commenting on Ravi’s experience, Robin Raina, Chairman, President & CEO, Ebix Inc, said, “Ravi has a deep understanding of the sectors in which EbixCash operates, built from his tenures at multiple banks, financial institutions, regulated financial intermediaries and insurance companies, his broad regulatory experience at IRDA, SEBI and RBI and his experience as a chartered accountant. As the Chairman of Tourism Finance Corporation of India, he also has a thorough understanding of the travel industry. All of these attributes are extremely valuable to his role on the EbixCash Board as we chart our next cycle of growth and progress towards the prospective IPO.”

Talking about his appointment, S Ravi said, “EbixCash has built a global presence today with clients in 44 countries and a leading presence in India in multiple financial technology segments. EbixCash has also become a bellwether in the remittance, foreign exchange and money transaction space. I am extremely glad to join the board of EbixCash and to be a part of their journey in India.”

Last week, Ebix Inc also announced the appointment of Former Chief Economist/ Former Director of the Division of Economic and Risk Analysis at the US Securities and Exchange Commission; and MIT Sloan School of Management Economist and Professor SP Kothari to the EbixCash Board.

A fortnight back, the Company announced the appointment of Grant Thornton India’s audit affiliate, along with KG Somani & Co as the joint statutory auditors for EbixCash.

  • Published On Jun 8, 2021 at 09:23 AM IST

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