Delhi: The Reserve Bank of India (RBI) has appointed National Securities Depository Limited (NSDL) executive Sudha Balakrishnan as its first chief financial officer (CFO).
According to Moneycontrol.com, Sudha Balakrishnan’s appointment is effective from May 15. Balakrishnan — a chartered accountant– was until recently a vice-president at the NSDL. She will be the 12th executive director at RBI, and will serve a three-year term. The appointment of Sudha Balakrishnan as the CFO is the biggest organisational change since Urjit Patel took over as RBI Governor in September 2016.
The RBI has been on the lookout for a CFO since May 2017. The RBI had first advertised for the post in May 2017, and again in October 2017. Later, after a long and lengthy process, Sudha Balakrishnan was appointed. According to the report, Sudha Balakrishnan will have 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 percent of the gross cost to the company.