RBI Appoints Suman Ray as New Executive Director

New Delhi, September 1: The Reserve Bank of India (RBI) has appointed Suman Ray as Executive Director (ED) effective immediately. Prior to this promotion, Ray served as the Regional Director for Maharashtra.

In his new role, Ray will oversee the Deposit Insurance and Credit Guarantee Corporation department as well as the premises department.

According to a statement from the central bank, Ray brings over three decades of experience to the RBI. He has worked in various sectors, including currency management, financial inclusion, payment and settlement systems, consumer education and protection, and human resources.

Ray has also served as the Secretary of the Western Regional Local Board.

Last month, the RBI appointed Monisha Chakraborty as Executive Director (ED). Chakraborty will manage the Foreign Exchange Department and the Financial Markets Regulation Department.

As a career central banker, Chakraborty has over three decades of experience at the RBI. She has worked in supervision, foreign exchange, and areas related to government and bank accounts. She was also part of a technical committee formed to review the RBI’s balance sheet and profit-loss account format. Chakraborty has previously served as a Banking Ombudsman.

Before her promotion to Executive Director, she was the Chief General Manager in charge of the supervision department. Chakraborty holds a bachelor’s degree in Economics from Delhi University and a master’s degree in Business Economics.

In July, the RBI appointed Ravi Shankar as its new Executive Director (ED). Before his promotion, Shankar was the Chief Advisor in charge of the Statistics and Information Management Department.

In his new role as Executive Director, he will continue to oversee the same department. A career central banker and statistician, Shankar has worked at the RBI for over three decades. Throughout his career, he has been involved in various areas, including corporate and banking statistics, government securities markets, settlement systems, loan management, and surveys.

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