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Vinod Rai appointed as Chairman of Fund Trustee and Advisory Commission of Kerala

He will be entrusted with the responsibility to ensure that the funds of the Kerala Infrastructure Investment Fund Board (KIIFB) are properly utilised and the interest of investors is protected.

Nov 8, 2016 16:01 IST
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Vinod Rai was on 7 November 2016 appointed as the Chairman of Fund Trustee and Advisory Commission of Kerala.

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He will be entrusted with the responsibility to ensure that the funds of the Kerala Infrastructure Investment Fund Board (KIIFB) are properly utilised and the interest of investors is protected.

Moreover, the board of the reconstituted KIIFB under Chairman Pinarayi Vijayan also decided to appoint Usha Thorat, former Deputy Governor of RBI and Prakash Bakshi, former Chairman of NABARD, as the other members of the FTAC.

The FTAC will have a two-year term and the members cannot be removed either by the government or the KIIFB. They will be removed from the FTAC if they are convicted for misbehaviour and corruption.

About Vinod Rai
• Rai is a former Comptroller and Auditor General of India.
• He is also a former IAS officer of the Kerala cadre.
• He had also served as the Principal Secretary, Finance, before going on deputation to the Union government.
• Later, he was associated with Kerala as he was tasked by the Supreme Court to audit properties of Sree Padmanabhaswami Temple in Thiruvananthapuram.

 

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