About IBDIC - Digital infrastructure for trade finance

ABOUT US

Transforming Financial Ecosystems Through Shared Digital Infrastructure

We're creating a digital infrastructure using emerging technologies to provide inclusive, secure and future-forward Trade and Supply chain solutions

Abstract background pattern for vision and mission section

Who we are

IBDIC is a pioneering Digital Public Infrastructure company, founded by 18 leading banks. We build Digital Trust Infrastructure for India's BFSI ecosystem, with a focus on trade and supply chain finance.

What we do?

We deliver network based, innovative, collaborative, secure and compliant solutions leveraging deep technology to reduce friction, enhance trust, and drive measurable impact across the BFSI ecosystem.

Our Vision

To Build network driven Digital Trust Infrastructure enabling a seamless, efficient and inclusive Global trade and supply chain ecosystem

Our Mission

To Power scalable network led Digital Trust Infrastructure for BFSI that simplifies trade and supply chain, strengthens risk management and accelerates MSME financial inclusion

FOCUS

Key Strategic Themes

Shared Infrastructure

Open platforms for banks, NBFCs, FinTechs, and others to drive scale and efficiency.

Collaborative Data Solutions

Centralized, responsibly managed databases to enhance risk mitigation and portfolio effectiveness.

Unified Platforms

Simplified and standardized digital interfaces across all IBDIC offerings.

Research & Innovation

Future-focused exploration of emerging technologies to deliver inclusive and predictive financial solutions.

AT THE HELM

Where expertise meets passion. Leading the way.

Debasish Panda

Chairman, IBDIC, Former Chairman of IRDAI Former Secretary - DFS, Ministry of Finance

Debasish Panda

Chairman, IBDIC, Former Chairman of IRDAI Former Secretary - DFS, Ministry of Finance

Debasish Panda, a retired IAS officer from the 1987 Uttar Pradesh cadre, is an experienced policymaker with over 30 years in administration and finance. Known for innovation and citizen-focused governance, he led key reforms in finance, insurance, public health, and urban development. As IRDAI Chairman (2022–2025), he promoted “Insurance for All by 2047” and strengthened policyholder protection.

R RAJESH

Chief General Manager Technology Services Wing Canara Bank

R RAJESH

Chief General Manager Technology Services Wing Canara Bank

Banking and technology leader with 35+ years of experience at Canara Bank, having progressed from Clerk to Chief General Manager. Has led technology, banking operations and transformation initiatives across multiple functions and geographies.

Holds an MCA (Distinction), MBA in Banking & Finance, M.Sc. in Mathematics, and CAIIB qualification

Sanjay Pandey

CGM (Digital Banking-Consumer) State Bank of India

Sanjay Pandey

CGM (Digital Banking-Consumer) State Bank of India

Over 25 years of experience in IT, project management and international banking.With SBI since 1998; currently leading the Bank’s digital initiatives. Former Executive Director & Deputy CEO, SBI UK Ltd. (2020–2023). Former VP & COO, SBI Hong Kong and Alternate Chief Executive

Experience across international assignments in USA, UK, Hong Kong, Australia, Canada and Bahrain. Qualifications: MSc (IT) and MBA (Finance)

Saket Awasthi

Head - Global Transaction Banking Services Federal Bank

Saket Awasthi

Head - Global Transaction Banking Services Federal Bank

Seasoned leader in Transaction Banking, digital transformation, business development and product innovation. 20+ years of experience across HSBC, Standard Chartered, IndusInd Bank and YES Bank. Expertise in Trade Finance, Cash Management and Supply Chain Finance

Led cross-border trade businesses and modernization of core & customer-facing banking applications. Strong focus on emerging banking technologies and AI use cases

MBA (Finance), IIM Lucknow | MTech, IIT Kanpur | FRM Certified

Sunit Madan

Head – Retail Assets IndusInd Bank

Sunit Madan

Head – Retail Assets IndusInd Bank

Senior banking professional with 30+ years of experience across retail lending, credit, risk management and operations. Has held senior leadership roles at Piramal Finance and Axis Bank, with experience in building and scaling retail businesses. Extensive expertise in retail banking, credit, collections, fraud control, risk and business transformation.

Has also worked with leading organisations including HSBC, Genpact and ICICI Prudential Life. Six Sigma Green Belt and alumnus of Osmania University

Tarandeep Singh Lamba

Head Trade Products SCB, India & Cluster Lead South Asia

Tarandeep Singh Lamba

Head Trade Products SCB, India & Cluster Lead South Asia

Leads the Trade business for Standard Chartered Bank, India & South Asia, covering Trade Product Development, Commercialisation and digitisation. Brings 24+ years of experience across IT, Citibank and Standard Chartered.

Has held leadership roles in Relationship Management, Transaction Banking Sales and Product Development. Engineer with an MBA in IT & Marketing and Certified Scrum Product Owner (CSPO). Has represented Standard Chartered on the Board of SWIFT India Domestic Services Private Limited since December 2023

Hitesh Sachdev

Head Startup Engagement & Investments, ICICI Bank

Hitesh Sachdev

Head Startup Engagement & Investments, ICICI Bank

Hitesh Sachdev is a veteran banker with ICICI Bank. He has spent more than 22 years at ICICI Bank building and leading diverse verticals including Innovation, Fintech Investments, Private Equity, Investment Banking and SME Business. Hitesh currently heads the Startup Engagement and Investments team at ICICI Bank.

Sony A

Chief Information Officer South Indian Bank

Sony A

Chief Information Officer South Indian Bank

Technology leader responsible for driving the Bank’s digital and technology transformation. Leads a team focused on delivering innovative, customer-centric digital solutions. Responsible for Marketing and Strategic Alliances, including partnerships with fintechs, startups and established technology players. Drives adoption of emerging technologies such as AI, ML and Blockchain to enhance digital capabilities and customer experience. Focused on leveraging technology partnerships and innovation to strengthen the Bank’s digital ecosystem and technology leadership.

Debasish Panda

Chairman, IBDIC, Former Chairman of IRDAI Former Secretary - DFS, Ministry of Finance

Debasish Panda

Chairman, IBDIC, Former Chairman of IRDAI Former Secretary - DFS, Ministry of Finance

R RAJESH

Chief General Manager Technology Services Wing Canara Bank

R RAJESH

Chief General Manager Technology Services Wing Canara Bank

Holds an MCA (Distinction), MBA in Banking & Finance, M.Sc. in Mathematics, and CAIIB qualification

Sanjay Pandey

CGM (Digital Banking-Consumer) State Bank of India

Sanjay Pandey

CGM (Digital Banking-Consumer) State Bank of India

Experience across international assignments in USA, UK, Hong Kong, Australia, Canada and Bahrain. Qualifications: MSc (IT) and MBA (Finance)

Saket Awasthi

Head - Global Transaction Banking Services Federal Bank

Saket Awasthi

Head - Global Transaction Banking Services Federal Bank

Led cross-border trade businesses and modernization of core & customer-facing banking applications. Strong focus on emerging banking technologies and AI use cases

MBA (Finance), IIM Lucknow | MTech, IIT Kanpur | FRM Certified

Sunit Madan

Head – Retail Assets IndusInd Bank

Sunit Madan

Head – Retail Assets IndusInd Bank

Has also worked with leading organisations including HSBC, Genpact and ICICI Prudential Life. Six Sigma Green Belt and alumnus of Osmania University

Tarandeep Singh Lamba

Head Trade Products SCB, India & Cluster Lead South Asia

Tarandeep Singh Lamba

Head Trade Products SCB, India & Cluster Lead South Asia

Hitesh Sachdev

Head Startup Engagement & Investments, ICICI Bank

Hitesh Sachdev

Head Startup Engagement & Investments, ICICI Bank

Sony A

Chief Information Officer South Indian Bank

Sony A

Chief Information Officer South Indian Bank

NS Vishwanathan

Ex Dy Governor, RBI

NS Vishwanathan

Ex Dy Governor, RBI

NS Vishwanathan, former Deputy Governor of the Reserve Bank of India, is an expert in banking regulation and financial stability. He led key reforms in supervision, risk management, and stressed asset resolution, and now serves as an Additional Independent Director at Axis Bank.

Abhaya Hota

Independent Director & Payment System Strategist

Abhaya Hota

Independent Director & Payment System Strategist

Abhaya Hota is a seasoned financial leader with over 40 years in banking and payments. He spent 27 years at the Reserve Bank of India before becoming the first MD & CEO of NPCI, leading key payment innovations like IMPS, RuPay, AePS, Bharat BillPay, electronic tolls, and UPI. He now chairs boards at Federal Bank and NSE Clearing and serves on several other boards including RBI Innovation Hub and Cashfree Payments.

Nandkumar Saravade

Independent Director / Strategy Advisor / Founder / former CEO and ex-IPS

Nandkumar Saravade

Independent Director / Strategy Advisor / Founder / former CEO and ex-IPS

Nandkumar Saravade is an expert in security, ethics, and compliance with leadership roles in public and private sectors. He was CEO of ReBIT (2016-2021) and led the Data Security Council of India. His career includes fraud risk and cybersecurity roles, advising Ernst & Young, ICICI Bank, and Citibank. A former IPS officer, he spent seven years with the CBI handling major fraud investigations.

Sandeep Shukla

Director and Professor - International Institute of Information Technology Hyderabad (IIIT-H)

Sandeep Shukla

Director and Professor - International Institute of Information Technology Hyderabad (IIIT-H)

Sandeep Shukla is a cybersecurity and embedded systems expert, holding the Rajiv and Ritu Batra Chair at IIT Kanpur. With a PhD in formal verification, he has worked at Intel on ITANIUM processors and led Virginia Tech’s FERMAT lab, advancing cybersecurity and system design.

Sujit Kumar Varma

Ex DMD - SBI

Sujit Kumar Varma

Ex DMD - SBI

Sujit Kumar Varma is an experienced banker specializing in corporate banking, trade finance, risk management, and compliance. Formerly Deputy Managing Director at SBI, he led international operations across 37 countries, managing $60 billion in assets. He now serves as an independent director for several BFSI firms.

NS Vishwanathan

Ex Dy Governor, RBI

NS Vishwanathan

Ex Dy Governor, RBI

Abhaya Hota

Independent Director & Payment System Strategist

Abhaya Hota

Independent Director & Payment System Strategist

Nandkumar Saravade

Independent Director / Strategy Advisor / Founder / former CEO and ex-IPS

Nandkumar Saravade

Independent Director / Strategy Advisor / Founder / former CEO and ex-IPS

Sandeep Shukla

Director and Professor - International Institute of Information Technology Hyderabad (IIIT-H)

Sandeep Shukla

Director and Professor - International Institute of Information Technology Hyderabad (IIIT-H)

Sujit Kumar Varma

Ex DMD - SBI

Sujit Kumar Varma

Ex DMD - SBI

Ashish Singhal

Chief Executive Officer

Ashish Singhal

Chief Executive Officer

Ashish Singhal, CEO of IBDIC, is a business and tech leader with 20+ years in banking, insurance, telecom, and automotive. He’s built and scaled ventures in digital infrastructure, fintech, blockchain, and payments. Known as one of India’s Top 10 Technology Heroes, he’s also an investor, board member, mentor, and speaker in fintech and emerging tech across Asia-Pacific.

Manish Gadia

Chief Product Officer

Manish Gadia

Chief Product Officer

With over 22 years of leadership experience across banking and fintech, Manish has built and scaled transaction banking, trade finance, and digital financial solutions while working with leading organizations, including Mashreq, DBS Bank, Vayana, and HSBC. His expertise spans AI in BFSI, digital trade finance, blockchain, digital assets, MLETR, Web3, and Digital Public Infrastructure (DPI).

Chintamani Bagwe

Chief Solutions and Customer Success Officer

Chintamani Bagwe

Chief Solutions and Customer Success Officer

Chintamani brings over two decades of deep domain experience in enterprise software architectures, low-code platforms, and applied AI delivery. Having spearheaded large-scale digital transformation programs across Siemens, IBM and Oracle, he has a proven track record of orchestrating complex cross-border implementations across the public sector, industrial enterprises, and tier-1 financial institutions. His extensive banking clientele includes leading global and regional banks, such as Citi, Fifth Third Bank, DBS, Rabobank, Banco de Chile, Dresdner Bank, and African Banking Corporation.

Rishabh Garg

Chief Technology Officer

Rishabh Garg

Chief Technology Officer

Rishabh Garg is a CTO with 22+ years in digital transformation across Fintech, Insurtech, and Telecom. He leads tech initiatives that boost profits, streamline processes, and scale solutions. Experienced in managing $7M+ tech investments yearly, building teams, and driving innovation. Regular speaker on Digital Transformation, Financial Inclusion, and Info Security.

Ram Prakash H

Partners

Building the Future of Digital Finance Together

Driving Our Progress Through Regulatory Partnerships

Powering India's Trade DPI

Strategic collaboration with DGFT under a formal MoU to co-build the Bharat Trade Network (BTN) : a national-level Digital Public Infrastructure enabling trusted, interoperable, and data-driven trade across India’s ecosystem.

Enabling Standardised Credit Access

InvoiceHub is integrated with RBIH’s Unified Lending Interface (ULI), enabling seamless, standardized, and industry-wide connectivity across lending institutions for faster and more reliable credit decisioning.

Affordable finance for supply chain MSMEs

IBDIC's Deep Tier Financing (DTF) is the only platform has successfully exited Reserve Bank of India (RBI)'s rigorous 5th Regulatory Sandbox Cohort — a powerful validation of IBDIC's vision, innovation and execution.

Customers

Organisations Transforming with IBDIC

Podcasts and Interviews

Ashish Singhal, CEO, IBDIC

At India Web 3.0 Summit: The Future of Digital Currency in India

Four Pillars of digital infrastructure discussion with Ashish Singhal

Ashish Singhal, CEO, IBDIC

At India Web 3.0 Summit: The Future of Digital Currency in India

FAQs

Frequently Asked Questions

Why was IBDIC established?

IBDIC was established to provide a collaborative model where financial institutions can pool resources and intellectual capital to co-create interoperable, secure, and industry-grade digital assets that improve trust, efficiency, and customer experience.

What problems does IBDIC solve?

IBDIC addresses critical challenges in trade and supply chain finance including invoice fraud, double financing, lack of credit access for deeper-tier MSMEs, fragmented invoice data across systems, and the need for standardized, interoperable digital infrastructure for the financial sector.

Who is IBDIC for?

IBDIC platforms serve banks, NBFCs, financial institutions, corporates, MSMEs, and other ecosystem participants in the financial services industry. Our solutions are designed for organizations seeking secure, compliant, and scalable digital infrastructure for trade and supply chain finance.

Is IBDIC secure and compliant?

Yes. Our platforms are embedded with digital trust, built with security-by-design principles, and maintain full regulatory compliance. Deep Tier Financing has successfully exited the RBI Regulatory Sandbox, and all platforms adhere to data protection standards including DPDP compliance.

What makes IBDIC different from other fintech solutions?

IBDIC is uniquely positioned as a bank-governed, consortium-backed DPI company rather than a standalone fintech. Our platforms are co-created with inputs from eighteen leading banks, embedded with digital trust by design, and built for scale and interoperability. We focus on systemic problems affecting the entire financial ecosystem rather than point solutions for individual institutions.