DLAI appoints Hemachandra, Prasad as independent directors to board

The Digital Lenders Association of India (DLAI), an industry association for digital lenders, appointed Meena Hemachandra and Alok Prasad as independent directors to its Board on Monday.

The appointment of independent directors will ensure stakeholder interests are represented and the association's operations are in compliance with relevant regulations, DLAI said.

Their role would include assisting the board in fulfilling its fiduciary duties, providing independent judgement and constructive challenge on strategic decisions, monitor and evaluating the performance and accountability of executive management and the board committees, among others.

Hemachandra is a former executive director of supervision, the Reserve Bank of India