The Reserve Bank of India (RBI) on July 1 announced appointment of Charulatha Kar and Arnab Chowdhury as the new executive directors (EDs) of the central bank, according to a statement. 

Kar’s appointment is effective from Monday. Prior to being promoted as ED, shewas serving as chief general manager-in-charge in the human resource management department. Kar has experience of over three decades in RBI across payment and settlement systems, information technology, government banking, internal accounts and HR management. As ED, she will look after the department of communication, HR and Right to Information (RTI) verticals of the RBI.

Chowdhury’s appointment, meanwhile, is with effect from June 3 and prior to being promoted as ED, he was CGM-in charge of supervision department. 

“Chowdhury has experience of over 3 decades in RBI. He has worked extensively in the area of supervision of financial entities. He has worked in the area of corporate strategy, budgeting, accounting and Issue Department,” the statement said.

As ED, Chowdhury will look after the deposit insurance and credit guarantee corporation, forex department and international department.

Separately, the RBI on Friday also joined the Project Nexus, a multilateral international initiative to enable instant cross-border retail payments by interlinking domestic fast payment systems (FPS). Nexus, conceptualised by the Innovation Hub of the Bank for International Settlements (BIS), aims to connect the FPSs of four ASEAN countries—Malaysia, Philippines, Singapore and Thailand — and India, who would be the founding members and first mover countries of this platform.