In what is said to be one of the major organisational changes of Urjit Patel’s tenure so far as the RBI governor, the central bank appointed Sudha Balakrishnan as its first ever chief financial officer(CFO). Balakrishnan, who is a NSDL executive, will take charge on May 15, reported The Economic Times.

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Balakrishnan, who will be the 12th executive director of the RBI, will have a three year term, ET reported on Monday.

Professionally a chartered accountant, Balakrishnan served as the vice president of the National Securities Depository Ltd (NSDL).

However, RBI is yet to give a confirmation regarding the ET report.

Balakrishnan, while serving the central bank, will be in charge of the bank’s balance sheet and will ensure that accounting policies and procedures are in line with regulations, said the report.

The report also mentioned that a recruitment notice issued in October 2017 had said that the new CFO would be responsible for "communicating an accurate and timely reporting of the central bank’s financial performance".

The CFO will also have to take vital decisions on the provident fund rate, managed by RBI for its employees, added the report.

“The job profile that Balakrishnan has got is more than what was advertised,” a former senior executive from the RBI was quoted in the report. “As CFO she will be privy to a lot of sensitive information of the RBI, including the foreign investments.”

According to the report, the CFO will be eligible for a monthly salary of Rs 2 lakh with housing or Rs 4 lakh per month without housing.

First Published:May 28, 2018 10:27 AM IST