Adlakha, who will be responsible for running company's consumer card and prepaid businesses, was earlier the head of corporate business at the company, it said in a statement.
He will continue to report to President of its south Asia operations, Sanjay Rishi, it said.
"As CEO for the India business, he (Adlakha) will be responsible for driving the growth, transformation, and profitability in this market," Rishi was quoted in the statement.
Rishi added, "India is a strategic growth market and we are confident of further buoyant growth under Adlakha.