RBI appoints Sudarshan Sen as Executive Director

RBI has appointed Sudarshan Sen as an Executive Director in place of NS Vishwanathan, who has been elevated as Deputy Governor at the central bank. Sen will look after Department of Banking Regulation, Department of Co-operative Bank Regulation and Department of Non-Banking Regulation. Sen is a career central banker and has a long association with bank supervision and regulation. Earlier, he was in charge of the Department of Banking Regulation.

He also served as the Regional Director of Ahmedabad office of the Reserve Bank of India. Sen holds an MBA in International Banking and Finance from the University of Birmingham, UK.

Did You Know?

  • The RBI logo was inspired from the East India Company Double Mohur.
  • It was formed on April 1, 1935 as a private entity, but is a government entity now. Nationalization of the central bank did not happen till 1949.
  • RBI is responsible only for printing the currency notes. Minting of coins is done by the Government of India.
  • The first woman to become the deputy governor of RBI is K. J. Udeshi. She was appointed in 2003.
  • RBI demonetized notes in the denominations of  five thousand rupees (Rs. 5,000) and ten thousand rupees (Rs. 10,000) in 1938. They were reintroduced in 1954 and again demonetized in 1978. RBI can print these notes according to the RBI act of 1934.
  • RBI was also the central bank for two other countries. It played the role of Central Bank of Pakistan till June 1948 and the Central Bank of Burma ( Myanmar) till April 1947.

Check out our latest videos on youtube