Reserve Bank of India (RBI) has appointed Ajay Kumar as Executive Director (ED). His appointment as Executive Director came into effect from August 20, the banking regulator said in a release on Thursday.

Prior to this Kumar was at the helm of affairs at the New Delhi Regional Office of RBI as regional director. Kumar has, over a span of three decades, served in foreign exchange, banking supervision, financial inclusion, currency management and other areas in the Reserve Bank.

Kumar will look after Department of Currency Management, Foreign Exchange Department and Premises Department as Executive Director. 

“Shri Kumar has, over a span of three decades, served in foreign exchange, banking supervision, financial inclusion, currency management and other areas in the Reserve Bank,” RBI mentioned in its release.

Kumar holds Masters degree in Economics from Patna University along with MS in Banking from ICFAI and Certified Bank Manager from Institute of Bank Management and Research, Hyderabad. He has undertaken Executive Management Programme from Kellogg School of Management, Chicago and holds other professional qualifications including Certified Associate of Indian Institute of Banking and Finance (CAIIB).

Worth mentioning here is that present RBI Governor Shaktikanta Das’ three-year term will end in December 2021. He had succeeded Urjit Patel who quit the post abruptly back in 2018.