RBI names Suman Ray as new Executive Director; to oversee deposit insurance

According to a Central Bank statement, Ray has experience of over three decades in the Reserve Bank, having worked in several areas including Currency Management, Financial Inclusion, Payment and Settlement System.

New Delhi: The Reserve Bank of India (RBI) on Tuesday appointed Suman Ray as Executive Director (ED) with immediate effect. Prior to being promoted as ED, Ray was serving as Regional Director for Maharashtra. 

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As Executive Director, Ray will look after Department of Deposit Insurance and Credit Guarantee Corporation and Premises Department.

According to a Central Bank statement, Ray has experience of over three decades in the Reserve Bank, having worked in several areas including Currency Management, Financial Inclusion, Payment and Settlement System, Consumer Education and Protection, and Human Resources. 

Ray also served as Secretary to the Western Area Local Board.

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

As a career central banker, she has experience of over three decades in the RBI, having worked in the areas of supervision, foreign exchange, and government and bank accounts. She was associated with a technical Committee set up to review the format of the RBI’s Balance Sheet and Profit and Loss account. Chakraborty has also served as Banking Ombudsman.

Prior to being promoted as ED, she was serving as Chief General Manager -in- Charge of the Department of Supervision.

Chakraborty has a degree in Economics and a Master’s degree in Business Economics, both from Delhi University.

In July, the RBI had appointed Ravi Shankar as its new Executive Director (ED). Before his elevation, Shankar served as Adviser-In-Charge of the RBI's Department of Statistics and Information Management.

In his new role as Executive Director, he will continue to oversee the same department.

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A career central banker and statistician, Shankar has worked for more than three decades at the RBI. Over the course of his career, he has worked across a wide range of areas, including corporate and banking statistics, the government securities market, settlement systems, debt management, and survey-related functions.