New Delhi, Sep 2026 : The Reserve Bank of India (RBI) on Tuesday appointed Suman Ray as Executive Director (ED) with immediate effect, strengthening its senior leadership team. Ray was serving as Regional Director for Maharashtra before his elevation to the post.
In his new role, Ray will oversee the Department of Deposit Insurance and Credit Guarantee Corporation (DICGC) and the Premises Department, according to a statement issued by the central bank.
Ray brings more than three decades of experience at the RBI, having worked across several important areas during his career. His assignments have included currency management, financial inclusion, payment and settlement systems, consumer education and protection, and human resources.
He has also served as Secretary to the Western Area Local Board, adding to his experience in the central bank's administrative and operational functions.
Ray's appointment comes after the RBI elevated several senior officials to the Executive Director level in recent months as part of changes in its senior management structure.
Last month, the central bank appointed Monisha Chakraborty as an Executive Director. Chakraborty has been assigned responsibility for the Foreign Exchange Department and the Financial Markets Regulation Department.
A career central banker with more than three decades of experience at the RBI, Chakraborty has worked in areas including banking supervision, foreign exchange operations, and government and bank accounts. She was also associated with a technical committee constituted to review the format of the RBI's Balance Sheet and Profit and Loss Account.
Chakraborty has served as Banking Ombudsman and, before her elevation as Executive Director, was Chief General Manager-in-Charge of the Department of Supervision.
She holds a degree in Economics and a Master's degree in Business Economics from the University of Delhi.
The RBI had also appointed Ravi Shankar as Executive Director in July. Prior to his elevation, Shankar was Adviser-in-Charge of the Department of Statistics and Information Management at the central bank. He continues to oversee the same department in his new capacity.
Shankar is a career central banker and statistician with more than three decades of experience at the RBI. During his tenure, he has handled a broad range of responsibilities, including corporate and banking statistics, the government securities market, settlement systems, debt management and survey-related functions.
The series of senior-level appointments comes as the RBI continues to strengthen its institutional and regulatory capabilities across key areas of banking, financial markets, payments, supervision and economic data management.
Ray's appointment, in particular, places his extensive experience in financial inclusion, payments, consumer protection and currency management alongside his new responsibilities covering deposit insurance and institutional premises.
