RBI Appoints Suman Ray As New Executive Director, To Take Charge Of Key Central Bank Responsibilities

On Tuesday, the Reserve Bank of India (RBI) appointed Suman Ray as Executive Director (ED) with immediate effect. Prior to this promotion, Ray had been serving as Regional Director for Maharashtra. As Executive Director, her responsibilities will include overseeing the Department of Deposit Insurance and Credit Guarantee Corporation, as well as the Premises Department.

According to a statement from the central bank, Ray boasts over three decades of experience in the RBI, having worked in various areas such as currency management, financial inclusion, payment and settlement systems, consumer education and protection, and human resources. She has also served as Secretary to the Western Area Local Board.

In a recent development, Monisha Chakraborty was also appointed as Executive Director, who will be responsible for the Foreign Exchange Department and the Financial Markets Regulation Department. Chakraborty, too, has over three decades of experience in the RBI, working in areas like supervision, foreign exchange, and government and bank accounts.

She has also been associated with a technical committee focused on reviewing the format of the RBI's Balance Sheet and Profit and Loss account, and has served as Banking Ombudsman. Ray, like Chakraborty, holds a degree in Economics and a Master's degree in Business Economics, both from Delhi University.