Sify Technologies Limited announced the appointment of Ms. Padmaja Chunduru as Director on the Board of Sify Technologies Limited. A career banker with a reputation for quiet, efficient disruption, Ms. Chunduru, previously led important functions at India’s largest bank, State Bank of India, both in India and the United States. Post SBI, as MD & CEO at Indian Bank, she was tasked with its merger with Allahabad Bank. The seamless execution between two diametrically opposite Indian banking institutions, is today an essential reference point in M&A studies and is chronicled as a case study "Merger of Equals" by Harvard Business School Publishing.
These gender-defying roles led her to the corner office of the National Securities Depository Limited (NSDL) as the MD & CEO, where she was instrumental in developing a pioneering DLT Blockchain based platform for Security and Covenant Monitoring of Corporate Debt.
A staunch evangelist of technology in business, she tapped into the emerging comfort among women with Fintech to bring more of them into the world of securities while simultaneously laying the roadmap for the market listing of NSDL.
Until recently, she was a Director on the Boards of LIC (Life Insurance Corporation of India), NPCI (National Payments Corporation of India), ISSA (International Securities Services Association) and ACG (Asia Pacific Central Depository Group), Institute of International Bankers and Asia Society, New York and Non-Executive Chairperson (Nominee Director) of Universal Sompo General Insurance Company Limited.
She is currently a member of the Insurance Advisory Committee of IRDAI (Insurance Regulatory and Development Authority of India) and the Centre for Corporate Governance and Sustainability, IIM, Bangalore. Ms. Chunduru is also a Certified Associate of Indian Institute of Bankers.
She has been awarded Best CEO (BFSI) for 2021 by Business Today and Best CEO 2021 for Women Leadership by Economic Times. She has been acknowledged as one of the Most Powerful Women (MPW) in Business by Fortune India and Business Today, for 2022 and 2023.
Welcoming her to the Board, Mr. Raju Vegesna, Chairman, said, “Ms. Chunduru brings to Sify the right experience of integrity, corporate governance and digital financial initiatives. In our ongoing evolution as a Digital Transformation partner for our clients, these are valuable mentoring avenues that Sify will benefit from. On behalf of Sify, it gives me immense pleasure to have her join us.”
Commenting on her appointment, Ms. Chunduru, remarked, “Sify has a reputation of being a disruptor in the ICT space with a successful track record of projects across multiple verticals. This wide breadth of transformative knowledge is extremely important in an evolving digital-aware market like India. By taking on this responsibility, I hope to translate my experience into productive mentoring, while ensuring that stakeholder interests are safeguarded, and corporate governance is adhered to in letter and spirit.”
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