Mumbai: Vodafone India has appointed former HDFC Bank executive Rahul Bhagat as an adviser to conceptualise its payments bank, for which the telecom operator got a central bank permit last year. Bhagat, who has been in the banking industry for nearly 25 years, is expected to help with permissions, structuring of the organisation in line with the RBI's expectations and commercial planning, said a person familiar with the matter. He will be working closely with Chief Operating Officer Naveen Chopra.

"Rahul Bhagat has joined Vodafone India for supporting us in conceptualising the launch of the payments bank," a Vodafone spokesman said. Bhagat, who prior to HDFC Bank worked at ANZ Grindlays and Bank of America, handled retail and digital products at the Indian lender before he left last year. 

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