Reserve Bank of India (RBI) has appointed Sudha Balakrishnan as first Chief Financial Officer (CFO). Sudha Balakrishnan is a NSDL executive and her appointment as the first ever chief financial officer (CFO) of the Reserve Bank of India (RBI) is effective from May 15.
This is the biggest organisational change in the RBI ever.
Smt Sudha Balakrishnan, a chartered accountant, was till recently vice president with the National Securities Depository Ltd (NSDL), India’s first and largest depository. She will be the 12th executive director of the RBI, and will have a three year term. She will be looking after central bank’s balance sheet to ensure accounting policies and procedures comply with regulations. She will also be responsible for communicating an accurate and timely reporting of the central bank’s financial performance and oversee its budgetary processes.
CFO will also be in charge of corporate strategy functions like deciding the provident fund rate. Further,she will be in charge of the government and bank account department, which processes government transactions like payments and revenue collections such as taxes beside central bank’s investments in India and abroad.
NOTE : RBI follows a July to June financial year.