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CDPG to host launch of book authored by IIMB Post-Doctoral Fellow Dr. Balakrishnan Mahadevan

Mr. N. R. Narayana Murthy, Founder of Infosys, to deliver the keynote address

15 December, 2025, Bengaluru:The Center for Digital Public Goods (CDPG) at the Indian Institute of Management Bangalore (IIM Bangalore) will host the launch of the book, ‘Designing Change: My Journey Through Digital Payments Transformation’, authored by Dr. Balakrishnan Mahadevan, Post-Doctoral Fellow at IIMB. The launch event will be held on Friday, 23 January 2026, at the IIMB Auditorium. The session, scheduled from 3:45 PM to 7:00 PM, will bring together leaders from policy, industry, and academia to reflect on India’s extraordinary journey in building one of the world’s most advanced digital payments ecosystems.

Click here to register: https://forms.office.com/r/k6j5eJ3k5Z

The book offers a definitive, insider account of how payments in India evolved in the 21st century, from a slow, cheque-dominated system to a real-time, interoperable digital public infrastructure that underpins inclusion, competition, and economic growth. Blending lived professional experience with institutional insight and policy analysis, the narrative spans the period from the 1980s to 2025 and positions payments as a critical form of public infrastructure rather than merely a transactional utility.

Structured across four parts and twenty-six chapters, Designing Change traces the evolution of India’s payments ecosystem with analytical depth and narrative coherence. It revisits early reforms in cheque clearing and the emergence of electronic systems, examines the blueprinting of institutional reform that led to the creation of the National Payments Corporation of India (NPCI), and chronicles the rise of fast payments through platforms such as IMPS and UPI. The book also explores the role of the Reserve Bank of India (RBI) as a catalyst and reflects on India’s growing influence on global payments thinking, alongside critical issues of interoperability, inclusion, and systemic risk.

Keynote Address

Mr. N. R. Narayana Murthy, Founder of Infosys, will deliver the keynote address at the launch event. A former Chairman of the National Payments Corporation of India, Mr. Murthy, brings a unique perspective on the values, governance principles, and institutional choices that shaped India’s digital payments trajectory. His keynote will set the context for a broader reflection on how integrity, speed of execution, and a public-good orientation enabled India to build a world-class, real-time payments infrastructure.

The event will feature reflections by distinguished leaders from policy, industry, and academia, offering multi-dimensional perspectives on the themes raised in the book. These reflections will be followed by a panel discussion on the Future of Payments, examining emerging trends such as digital public infrastructure for developing economies, the coexistence of banks and fintechs, and the implications of new forms of digital money, including central bank digital currencies (CBDCs), stablecoins, and tokenised deposits.

Drawing on the author’s direct involvement in initially connecting the banks he worked with RTGS, EFT/SEFT/NEFT, ECS and CTS, and then implementing key payment systems, including  CTS, IMPS, AEPS, APB, NACH, and RuPay, the book provides both a historical record and a forward-looking framework for countries seeking to design sustainable and inclusive digital payment infrastructures.

The launch of Designing Change: My Journey Through Digital Payments Transformation is expected to be a significant moment for policymakers, regulators, financial sector leaders, scholars, and practitioners interested in understanding how thoughtful institutional design and technological innovation can drive large-scale economic transformation.

About the author

Dr. Balakrishnan Mahadevan is a Post-Doctoral Fellow at IIM Bangalore, whose research focuses on Digital Public Infrastructure (DPI) and Digital Public Goods (DPGs). He holds multiple postgraduate qualifications, including an MA in Political Science/Public Administration, an MBA in Finance, and a Master’s degree in Bank Management, and is a distinguished techno-functional expert in banking and payment systems with over three decades of experience.

He has served in senior roles across ABN AMRO, Citibank, DCB Bank, and NPCI, with extensive expertise in IT infrastructure, data centres, and mission-critical core banking and financial services applications. As Chief Operating Officer of NPCI, he led business, operations, and technology initiatives that shaped India’s modern digital payments ecosystem, implementing systems such as IMPS, AEPS, APB, NACH, CTS, and RuPay. He has also worked with the World Bank to strengthen financial and payments infrastructure across multiple countries.

Add to Calendar 2026-01-23 05:30:00 2025-12-16 11:25:06 CDPG to host launch of book authored by IIMB Post-Doctoral Fellow Dr. Balakrishnan Mahadevan Mr. N. R. Narayana Murthy, Founder of Infosys, to deliver the keynote address 15 December, 2025, Bengaluru:The Center for Digital Public Goods (CDPG) at the Indian Institute of Management Bangalore (IIM Bangalore) will host the launch of the book, ‘Designing Change: My Journey Through Digital Payments Transformation’, authored by Dr. Balakrishnan Mahadevan, Post-Doctoral Fellow at IIMB. The launch event will be held on Friday, 23 January 2026, at the IIMB Auditorium. The session, scheduled from 3:45 PM to 7:00 PM, will bring together leaders from policy, industry, and academia to reflect on India’s extraordinary journey in building one of the world’s most advanced digital payments ecosystems. Click here to register: https://forms.office.com/r/k6j5eJ3k5Z The book offers a definitive, insider account of how payments in India evolved in the 21st century, from a slow, cheque-dominated system to a real-time, interoperable digital public infrastructure that underpins inclusion, competition, and economic growth. Blending lived professional experience with institutional insight and policy analysis, the narrative spans the period from the 1980s to 2025 and positions payments as a critical form of public infrastructure rather than merely a transactional utility. Structured across four parts and twenty-six chapters, Designing Change traces the evolution of India’s payments ecosystem with analytical depth and narrative coherence. It revisits early reforms in cheque clearing and the emergence of electronic systems, examines the blueprinting of institutional reform that led to the creation of the National Payments Corporation of India (NPCI), and chronicles the rise of fast payments through platforms such as IMPS and UPI. The book also explores the role of the Reserve Bank of India (RBI) as a catalyst and reflects on India’s growing influence on global payments thinking, alongside critical issues of interoperability, inclusion, and systemic risk. Keynote Address Mr. N. R. Narayana Murthy, Founder of Infosys, will deliver the keynote address at the launch event. A former Chairman of the National Payments Corporation of India, Mr. Murthy, brings a unique perspective on the values, governance principles, and institutional choices that shaped India’s digital payments trajectory. His keynote will set the context for a broader reflection on how integrity, speed of execution, and a public-good orientation enabled India to build a world-class, real-time payments infrastructure. The event will feature reflections by distinguished leaders from policy, industry, and academia, offering multi-dimensional perspectives on the themes raised in the book. These reflections will be followed by a panel discussion on the Future of Payments, examining emerging trends such as digital public infrastructure for developing economies, the coexistence of banks and fintechs, and the implications of new forms of digital money, including central bank digital currencies (CBDCs), stablecoins, and tokenised deposits. Drawing on the author’s direct involvement in initially connecting the banks he worked with RTGS, EFT/SEFT/NEFT, ECS and CTS, and then implementing key payment systems, including  CTS, IMPS, AEPS, APB, NACH, and RuPay, the book provides both a historical record and a forward-looking framework for countries seeking to design sustainable and inclusive digital payment infrastructures. The launch of Designing Change: My Journey Through Digital Payments Transformation is expected to be a significant moment for policymakers, regulators, financial sector leaders, scholars, and practitioners interested in understanding how thoughtful institutional design and technological innovation can drive large-scale economic transformation. About the author Dr. Balakrishnan Mahadevan is a Post-Doctoral Fellow at IIM Bangalore, whose research focuses on Digital Public Infrastructure (DPI) and Digital Public Goods (DPGs). He holds multiple postgraduate qualifications, including an MA in Political Science/Public Administration, an MBA in Finance, and a Master’s degree in Bank Management, and is a distinguished techno-functional expert in banking and payment systems with over three decades of experience. He has served in senior roles across ABN AMRO, Citibank, DCB Bank, and NPCI, with extensive expertise in IT infrastructure, data centres, and mission-critical core banking and financial services applications. As Chief Operating Officer of NPCI, he led business, operations, and technology initiatives that shaped India’s modern digital payments ecosystem, implementing systems such as IMPS, AEPS, APB, NACH, CTS, and RuPay. He has also worked with the World Bank to strengthen financial and payments infrastructure across multiple countries. IIM Bangalore IIM Bangalore communications@iimb.ac.in Asia/Kolkata public
23 Jan 2026

CDPG to host launch of book authored by IIMB Post-Doctoral Fellow Dr. Balakrishnan Mahadevan

Add to Calendar 2026-01-23 05:30:00 2025-12-16 11:25:06 CDPG to host launch of book authored by IIMB Post-Doctoral Fellow Dr. Balakrishnan Mahadevan Mr. N. R. Narayana Murthy, Founder of Infosys, to deliver the keynote address 15 December, 2025, Bengaluru:The Center for Digital Public Goods (CDPG) at the Indian Institute of Management Bangalore (IIM Bangalore) will host the launch of the book, ‘Designing Change: My Journey Through Digital Payments Transformation’, authored by Dr. Balakrishnan Mahadevan, Post-Doctoral Fellow at IIMB. The launch event will be held on Friday, 23 January 2026, at the IIMB Auditorium. The session, scheduled from 3:45 PM to 7:00 PM, will bring together leaders from policy, industry, and academia to reflect on India’s extraordinary journey in building one of the world’s most advanced digital payments ecosystems. Click here to register: https://forms.office.com/r/k6j5eJ3k5Z The book offers a definitive, insider account of how payments in India evolved in the 21st century, from a slow, cheque-dominated system to a real-time, interoperable digital public infrastructure that underpins inclusion, competition, and economic growth. Blending lived professional experience with institutional insight and policy analysis, the narrative spans the period from the 1980s to 2025 and positions payments as a critical form of public infrastructure rather than merely a transactional utility. Structured across four parts and twenty-six chapters, Designing Change traces the evolution of India’s payments ecosystem with analytical depth and narrative coherence. It revisits early reforms in cheque clearing and the emergence of electronic systems, examines the blueprinting of institutional reform that led to the creation of the National Payments Corporation of India (NPCI), and chronicles the rise of fast payments through platforms such as IMPS and UPI. The book also explores the role of the Reserve Bank of India (RBI) as a catalyst and reflects on India’s growing influence on global payments thinking, alongside critical issues of interoperability, inclusion, and systemic risk. Keynote Address Mr. N. R. Narayana Murthy, Founder of Infosys, will deliver the keynote address at the launch event. A former Chairman of the National Payments Corporation of India, Mr. Murthy, brings a unique perspective on the values, governance principles, and institutional choices that shaped India’s digital payments trajectory. His keynote will set the context for a broader reflection on how integrity, speed of execution, and a public-good orientation enabled India to build a world-class, real-time payments infrastructure. The event will feature reflections by distinguished leaders from policy, industry, and academia, offering multi-dimensional perspectives on the themes raised in the book. These reflections will be followed by a panel discussion on the Future of Payments, examining emerging trends such as digital public infrastructure for developing economies, the coexistence of banks and fintechs, and the implications of new forms of digital money, including central bank digital currencies (CBDCs), stablecoins, and tokenised deposits. Drawing on the author’s direct involvement in initially connecting the banks he worked with RTGS, EFT/SEFT/NEFT, ECS and CTS, and then implementing key payment systems, including  CTS, IMPS, AEPS, APB, NACH, and RuPay, the book provides both a historical record and a forward-looking framework for countries seeking to design sustainable and inclusive digital payment infrastructures. The launch of Designing Change: My Journey Through Digital Payments Transformation is expected to be a significant moment for policymakers, regulators, financial sector leaders, scholars, and practitioners interested in understanding how thoughtful institutional design and technological innovation can drive large-scale economic transformation. About the author Dr. Balakrishnan Mahadevan is a Post-Doctoral Fellow at IIM Bangalore, whose research focuses on Digital Public Infrastructure (DPI) and Digital Public Goods (DPGs). He holds multiple postgraduate qualifications, including an MA in Political Science/Public Administration, an MBA in Finance, and a Master’s degree in Bank Management, and is a distinguished techno-functional expert in banking and payment systems with over three decades of experience. He has served in senior roles across ABN AMRO, Citibank, DCB Bank, and NPCI, with extensive expertise in IT infrastructure, data centres, and mission-critical core banking and financial services applications. As Chief Operating Officer of NPCI, he led business, operations, and technology initiatives that shaped India’s modern digital payments ecosystem, implementing systems such as IMPS, AEPS, APB, NACH, CTS, and RuPay. He has also worked with the World Bank to strengthen financial and payments infrastructure across multiple countries. IIM Bangalore IIM Bangalore communications@iimb.ac.in Asia/Kolkata public

Mr. N. R. Narayana Murthy, Founder of Infosys, to deliver the keynote address

15 December, 2025, Bengaluru:The Center for Digital Public Goods (CDPG) at the Indian Institute of Management Bangalore (IIM Bangalore) will host the launch of the book, ‘Designing Change: My Journey Through Digital Payments Transformation’, authored by Dr. Balakrishnan Mahadevan, Post-Doctoral Fellow at IIMB. The launch event will be held on Friday, 23 January 2026, at the IIMB Auditorium. The session, scheduled from 3:45 PM to 7:00 PM, will bring together leaders from policy, industry, and academia to reflect on India’s extraordinary journey in building one of the world’s most advanced digital payments ecosystems.

Click here to register: https://forms.office.com/r/k6j5eJ3k5Z

The book offers a definitive, insider account of how payments in India evolved in the 21st century, from a slow, cheque-dominated system to a real-time, interoperable digital public infrastructure that underpins inclusion, competition, and economic growth. Blending lived professional experience with institutional insight and policy analysis, the narrative spans the period from the 1980s to 2025 and positions payments as a critical form of public infrastructure rather than merely a transactional utility.

Structured across four parts and twenty-six chapters, Designing Change traces the evolution of India’s payments ecosystem with analytical depth and narrative coherence. It revisits early reforms in cheque clearing and the emergence of electronic systems, examines the blueprinting of institutional reform that led to the creation of the National Payments Corporation of India (NPCI), and chronicles the rise of fast payments through platforms such as IMPS and UPI. The book also explores the role of the Reserve Bank of India (RBI) as a catalyst and reflects on India’s growing influence on global payments thinking, alongside critical issues of interoperability, inclusion, and systemic risk.

Keynote Address

Mr. N. R. Narayana Murthy, Founder of Infosys, will deliver the keynote address at the launch event. A former Chairman of the National Payments Corporation of India, Mr. Murthy, brings a unique perspective on the values, governance principles, and institutional choices that shaped India’s digital payments trajectory. His keynote will set the context for a broader reflection on how integrity, speed of execution, and a public-good orientation enabled India to build a world-class, real-time payments infrastructure.

The event will feature reflections by distinguished leaders from policy, industry, and academia, offering multi-dimensional perspectives on the themes raised in the book. These reflections will be followed by a panel discussion on the Future of Payments, examining emerging trends such as digital public infrastructure for developing economies, the coexistence of banks and fintechs, and the implications of new forms of digital money, including central bank digital currencies (CBDCs), stablecoins, and tokenised deposits.

Drawing on the author’s direct involvement in initially connecting the banks he worked with RTGS, EFT/SEFT/NEFT, ECS and CTS, and then implementing key payment systems, including  CTS, IMPS, AEPS, APB, NACH, and RuPay, the book provides both a historical record and a forward-looking framework for countries seeking to design sustainable and inclusive digital payment infrastructures.

The launch of Designing Change: My Journey Through Digital Payments Transformation is expected to be a significant moment for policymakers, regulators, financial sector leaders, scholars, and practitioners interested in understanding how thoughtful institutional design and technological innovation can drive large-scale economic transformation.

About the author

Dr. Balakrishnan Mahadevan is a Post-Doctoral Fellow at IIM Bangalore, whose research focuses on Digital Public Infrastructure (DPI) and Digital Public Goods (DPGs). He holds multiple postgraduate qualifications, including an MA in Political Science/Public Administration, an MBA in Finance, and a Master’s degree in Bank Management, and is a distinguished techno-functional expert in banking and payment systems with over three decades of experience.

He has served in senior roles across ABN AMRO, Citibank, DCB Bank, and NPCI, with extensive expertise in IT infrastructure, data centres, and mission-critical core banking and financial services applications. As Chief Operating Officer of NPCI, he led business, operations, and technology initiatives that shaped India’s modern digital payments ecosystem, implementing systems such as IMPS, AEPS, APB, NACH, CTS, and RuPay. He has also worked with the World Bank to strengthen financial and payments infrastructure across multiple countries.