RBI Appoints Suman Ray as New Executive Director

RBI's Latest Executive Appointment

New Delhi, September 1: The Reserve Bank of India (RBI) has announced the appointment of Suman Ray as Executive Director (ED), effective immediately. Before this promotion, Ray held the position of Regional Director for Maharashtra.

In his new role, Ray will oversee the Department of Deposit Insurance and Credit Guarantee Corporation, as well as the Premises Department.

As stated by the Central Bank, Ray brings over thirty years of experience within the RBI, having worked in various sectors such as Currency Management, Financial Inclusion, Payment and Settlement Systems, Consumer Education and Protection, and Human Resources.

Additionally, he has previously served as Secretary to the Western Area Local Board.

Last month, Monisha Chakraborty was also appointed as Executive Director. She will manage the Foreign Exchange Department and the Financial Markets Regulation Department.

Chakraborty, a seasoned central banker, has over thirty years of experience at the RBI, focusing on supervision, foreign exchange, and government and bank accounts. She played a role in a technical committee that reviewed the RBI’s Balance Sheet and Profit and Loss account and has served as Banking Ombudsman.

Before her elevation to ED, she was the Chief General Manager-in-Charge of the Department of Supervision and holds degrees in Economics and Business Economics from Delhi University.

In July, Ravi Shankar was appointed as an Executive Director as well. Prior to this, he was the Adviser-In-Charge of the RBI's Department of Statistics and Information Management.

In his new capacity, he will continue to supervise the same department. Shankar is a career central banker and statistician with over thirty years of experience at the RBI, having worked in diverse areas including corporate and banking statistics, the government securities market, settlement systems, debt management, and survey-related functions.