India, May 30 -- Prosus-owned payment solutions giant PayU, which is gearing up for its initial public offering (IPO) on the Indian bourses, has expanded its board of directors with three new appointments.

While RBI's former deputy governor Subhash Mundra and DevRey's founder and president Manoj Kumar Agarwal will be joining PayU as non-executive independent directors, Ashutosh Sharma, head of investments and M&A for India at Prosus Ventures, will join as non-executive non-independent director.

The board expansion comes days after PayU India received final authorisation from the Reserve Bank of India (RBI) to operate as a payment aggregator (PA).

With the recent board expansion, the fintech giant looks to set new governance and complia...