Former Indian Bank CEO joins Sify Technologies as Director

Sify Technologies, a provider of digital ICT solutions, has appointed Padmaja Chunduru as a Director on its Board. 

Chunduru, a seasoned banking professional, has held senior roles at the State Bank of India (SBI) in both India and the US. After her tenure at SBI, she served as Managing Director and CEO of Indian Bank, overseeing its merger with Allahabad Bank, which has been documented as a case study by Harvard Business School. 

Following her role at Indian Bank, Chunduru was the Managing Director and CEO of National Securities Depository Limited (NSDL), where she contributed to the development of a blockchain-based platform for monitoring corporate debt. 

Chunduru has also served on the boards of various organisations, including Life Insurance Corporation of India (LIC), National Payments Corporation of India (NPCI), International Securities Services Association (ISSA), and Universal Sompo General Insurance Company. She currently sits on the Insurance Advisory Committee of the Insurance Regulatory and Development Authority of India (IRDAI) and is involved with the Centre for Corporate Governance and Sustainability at IIM Bangalore. 

Chunduru has been recognised with several leadership awards, including Best CEO (BFSI) in 2021 and as one of the Most Powerful Women in Business by Fortune India and Business Today in 2022 and 2023. 

Raju Vegesna, Chairman, said, “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.”  

Chunduru, remarked, “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.”