Mumbai (Maharashtra) [India], October 2 (ANI): The Reserve Bank of India (RBI) has appointed Sudhakar Malli as Executive Director (ED) with effect from October 1, the central bank said in an official statement on Friday.

Prior to his appointment as Executive Director, Malli was serving as Chief General Manager-in-Charge of the Department of Supervision at the RBI. As Executive Director, Malli will look after the Department of Supervision (Supervisory Assessment), the RBI said.

RBI also shared that Sudhakar Malli is a career central banker with around three decades of experience, according to the central bank. He has extensive experience in the supervision of banks, non-banking financial companies (NBFCs) and co-operative banks.

The RBI said his supervisory experience in these areas spans over two and a half decades.

Malli has also worked in overseas jurisdictions, where he has around five years of supervisory experience. In addition to his supervisory responsibilities, he has also worked in the area of Currency Management, the RBI said.

His new role will place him in charge of the Department of Supervision (Supervisory Assessment), building on his long experience in financial-sector supervision.

The RBI's Department of Supervision is responsible for supervisory functions relating to regulated entities, while Malli's new assignment specifically covers the supervisory assessment function, according to the central bank's statement.

Malli holds a B.Tech degree in Mechanical Engineering and is a Certified Associate of the Indian Institute of Bankers (CAIIB).

The appointment comes as part of the RBI's senior leadership structure, with Malli moving into the Executive Director role after serving as Chief General Manager-in-Charge of the Department of Supervision.

The central bank did not provide further details on the specific responsibilities or priorities that Malli will undertake in his new role, beyond stating that he will look after the Department of Supervision (Supervisory Assessment). (ANI)