S
S MUNDRA TAKES OVER AS RBI DEPUTY GOVERNOR
Shri S. S. Mundra took over as the Deputy Governor of
the Reserve Bank of India (RBI) today. The Government of India vide its
notification dated July 30, 2014 has appointed him as the Deputy Governor of
the Reserve Bank of India, for a period of three
years from the date of his taking over, i.e., July 31, 2014 or until
further orders, whichever is earlier. Prior to joining the Reserve Bank, Shri
Mundra was Chairman and Managing Director, Bank of Baroda, the second largest
bank in the country.
As Deputy Governor,
Shri Mundra will look after banking supervision, currency management,
financial stability, rural credit, customer service, as also, the Reserve
Bank’s human resources and security.
Born on July 18, 1954,
Shri Mundra began his career as a Probationary Officer in Bank of Baroda in
March 1977. During a banking career spanning 37 years, he has held several
challenging positions including heading Bank of Baroda’s European operations
(UK) before being elevated as Executive Director of Union Bank of India in
September 2010 and further as Chairman of Bank of Baroda in January 2013.
Shri Mundra has served
on Boards of several multi-dimensional companies, such as, the Clearing
Corporation of India Ltd (CCIL), Central Depository Services (India) Ltd.
(CDSL), BOB Asset Management Company, India Infrastructure Finance Corporation
(UK) Ltd. (IIFCL), Star Union Dai-Ichi Life Insurance Company Ltd., National
Payments Corporation of India Ltd. The experience gained in guiding these
entities has bestowed him with wide leadership skills and keen insights in best
practices in Corporate Governance.
He has served as the
Chairman of Committee on Financial Inclusion set up by the Indian Banks’
Association (IBA) and also served as a member of several other important
committees relating to the banking and financial sector constituted by the IBA
and RBI, including the Nachiket Mor Committee on Comprehensive Financial
Services (CCFS) for Small Businesses and Low-Income Households.
He holds a Masters
Degree in Commerce and CAIIB.
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