Sudha Balakrishnan, a vice president at the National Securities Depository has been appointed as the first ever chief financial officer (CFO) of the Reserve Bank of India. She had taken charge on 15 May. A chartered accountant, she will be an executive director at RBI and a nodal officer overseeing several financial functions, including the central bank’s investments in India and abroad. She will have a term of 3 years. RBI had advertised for the position in October 2017 stating the person selected for the position would be responsible for the central bank’s balance sheet and in ensuring accounting policies and procedures. Besides internal accounts and budget, she will also be in charge of corporate strategy functions like deciding the provident fund rate, which the central bank manages for its employees. A key responsibility for her would in fact be the charge of the government and bank account department, which processes government transactions like payments and revenue collections such as taxes.
