Subhash Sheoratan Mundra on 31 July 2014 took charge as the fourth Deputy Governor of the Reserve Bank of India (RBI). The Government of India vide its notification on 30 July 2014 appointed Mundra as the Deputy Governor of RBI for three years from the date of assuming charge of the office.
With this appointment, Mundra will look after banking supervision, currency management, financial stability, rural credit, customer service and also the Reserve Bank’s human resources & security.
He was appointed to fill the vacancy created by the KC Chakrabarty who in April 2014 took voluntary retirement. Chakrabarty resigned from the Deputy Governor post two months before his five-year tenure.
Before being appointed as Deputy Governor of RBI, S S Mundra was the Chairman and Managing Director of Bank of Baroda, the second largest bank in the country.
About Subhash Sheoratan Mundra
• In March 1977, he started his career as a Probationary Officer in Bank of Baroda
• In his long career of 37 years, he held several positions that included
a) Head of Bank of Baroda’s European operations (UK)
b) Executive Director of Union Bank of India
c) Chairman and Managing Director of Bank of Baroda since January 2013
• He has served on Boards of several multi-dimensional companies like
a) The Clearing Corporation of India Ltd (CCIL)
b) Central Depository Services (India) Ltd. (CDSL)
c) BOB Asset Management Company
d) India Infrastructure Finance Corporation (UK) Ltd. (IIFCL)
e) Star Union Dai-Ichi Life Insurance Company Ltd.
f) National Payments Corporation of India Ltd
• He was the Chairman of Committee on Financial Inclusion that was constituted by the Indian Banks Association (IBA)
• He also served as a member of several committees related to the banking and financial sector constituted by IBA and RBI including
a) 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
• Subhash Sheoratan Mundra was born on 18 July 1954
When: 31 July 2014