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Arcil names Phanindranath Kakarla chief executive and md
Kakarla succeeds Pallav Mohapatra in planned transition
MUMBAI: Asset Reconstruction Company (India) Limited (ARCIL) has appointed Phanindranath Kakarla as chief executive officer and managing director, effective 9 March, succeeding Pallav Mohapatra, who has stepped down after completing his term.
Arcil, founded in 2002, was India’s first asset reconstruction company and remains a key player in resolving stressed assets for banks and financial institutions.
Kakarla joined Arcil as president on 2 April, 2025 under a board-approved succession plan designed to ensure a smooth leadership transition. In that role he worked closely with the management team on strategy, business expansion and operational transformation.
Before joining Arcil, he held senior leadership roles at the Edelweiss Group, where he oversaw strategic functions including finance, operations, corporate services and business transformation.
“I am honoured to take on the responsibility of leading Arcil at an important stage in its journey,” said Kakarla. “Arcil has played a pioneering role in shaping India’s asset reconstruction industry and remains a strategic partner for banks and financial institutions.”
Mohapatra, who took charge in March 2021, leaves after guiding the company through a period of strategic consolidation. With more than four decades in India’s banking and financial services industry, he helped strengthen Arcil’s governance frameworks and sharpen its growth initiatives in the stressed-asset resolution space.
Welcoming the new chief, Arcil chairman Narayanan Subramaniam, said Kakarla’s experience in financial services and asset resolution would help steer the company into its next phase of growth. He also thanked Mohapatra for his leadership during what he described as a transformative period for the firm.
Arcil counts institutional investors including Avenue India Resurgence Pte Limited and State Bank of India among its shareholders and operates across multiple branches in India, focusing on corporate, SME and retail asset resolution.
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FSS names Anand Krishnamurthi head of global digital delivery
Tech veteran to drive AI-first, cloud-led transformation in payments globally
CHENNAI: Financial Software and Systems (FSS), an AI-first payment infrastructure company, has appointed Anand Krishnamurthi as head of global digital delivery.
In his new role, Anand Krishnamurthi will lead FSS’s global digital delivery capabilities, focusing on AI-first and cloud-led transformation while ensuring predictable, high-quality outcomes for customers worldwide. He will be based in Chennai and report to V. Balasubramanian, CEO of FSS.
Bringing 28 years of experience in technology and digital transformation across banking, capital markets, financial services, and insurance, Anand has held senior leadership positions at Cognizant and NuSummit. He is recognised for scaling multi-geography delivery teams, leading mission-critical platforms, and embedding AI-driven automation in complex, regulated environments.
“What drew me to FSS is its deep payments expertise, strong product DNA, and the scale at which its platforms power real-world financial ecosystems,” said Anand Krishnamurthi. “I aim to strengthen delivery predictability, execution rigor, and engineering quality, building empowered teams that deliver measurable customer outcomes. FSS has a unique opportunity to create real-time, AI-infused payments infrastructure that is resilient, secure, and globally scalable.”
V. Balasubramanian added, “Anand’s track record in leading multi-geography delivery programs and AI-first operating models makes him the ideal leader for FSS as we accelerate our AI-driven digital payments business. His leadership will help us raise the bar for outcomes globally.”
This appointment is part of FSS’s broader push to build an AI-powered, cloud-native delivery organisation capable of meeting the evolving needs of banks, fintechs, and financial institutions worldwide.
