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RBI appoints a CA as its first CFO

Posted on 28 May 2018,    
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Sudha Balakrishnan, a Chartered Accountant, has been appointed as the first Chief Financial Officer (CFO) of the Reserve Bank of India as effective from May 15.

She was till recently the vice president with the NSDL, India’s largest depository before joining for this position at RBI.

She will be the 12th executive director of the RBI, and will have a term of 3 years.

In this role, she will be in charge of:

  • the apex bank’s Balance Sheet to ensure compliance with all the accounting policies, procedures and regulations.
  • communicating an accurate and timely reporting of the central bank’s financial performance and oversee its budgetary processes. 
  • Overseeing RBI’s Investment within India and Abroad
  • the government and bank account department, which processes government transactions like payments and revenue collections such as taxes.
  • the dividend RBI pays to the government, which is crucial in the final budgetary calculations 

Sudha Balakrishnan is eligible for a monthly salary of Rs 2 lakh with housing or Rs 4 lakh per month without housing and an annual increase of 3% to 5% of the gross cost to the company.

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