Vinod Rai

Chairman, Banks Board Bureau, India


Mr. Vinod Rai is the Chairman of the Banks Board Bureau, India, and a visiting Senior Research Fellow at the Institute of South Asian Studies, at the National University of Singapore.

In view of his vast experience in the Financial Sector, he was appointed the first Chairman of the newly created Banks Board Bureau. Prior to this role, Mr. Rai was the Comptroller & Auditor General of India on 7th January 2008.  He demitted the office of the Comptroller and Auditor General of India in May 2013.

Mr. Rai has wide experience of working in various capacities in the State Government of Kerala as well as in the Union Government.  His assignments in the State Government included stints as Secretary (Agriculture), Principal Secretary (Finance) and Managing Director, Kerala State Cooperative Marketing Federation. At the Union government level, Mr. Rai held senior positions. Working in the Union Ministry of Commerce and Foreign Trade he was responsible for supervising the export of all agricultural produce from India. He set up the Spices Board, the Agriculture and Processed Foods Export Development Authority and was responsible for a large number of initiatives for the development of exports.

As Secretary in the Ministry of Finance he initiated reforms in the Banking, Insurance and Pensions sector. He served as a Director on the Boards of State Bank of India, ICICI Bank, IDBI Bank, Life Insurance Corporation of India and Infrastructure Development & Finance Company of India. He set up the India Infrastructure Finance Company which also has an office in London.

In recognition of his services to the nation, he was awarded the Padma Bhushan, which is the third highest civilian award in the country

Mr. Rai has a Masters Degree in Economics from Delhi School of Economics, University of Delhi.  He has a Masters Degree in Public Administration from the Harvard Kennedy School, Harvard University, USA. He is also the author of "Not just an Accountant".