The post of Chief Financial Officer (CFO) of the Reserve Bank of India was created as part of the organizational change brought in by former Governor Urjit Patel in 2016. The RBI started inviting applications for the post in 2017, finally selecting Sudha Balakrishnan after much deliberation.
A chartered accountant by profession, Balakrishnan was the Vice President of National Securities Depositories (NSDL), prior to her appointment. She took over as the first CFO of the RBI in 2018.
The CFO is responsible for reporting financial information of the bank, establishing ac-counting policies, ensuring compliance with regulations, communicating the expected and actual financial performance of the bank, and overseeing budget processes.
Balakrishnan has a challenging profile as the 12th executive director of the RBI. She is in charge of the government and bank account department which processes government transactions such as payments and revenue collections such as taxes. She oversees the central bank’s investments in the country and abroad and manages the RBI balance sheet to ensure accounting policies and procedures comply with regulations.
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