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Ex-RBI officer Mohanty is appointed by the government to lead PFRDA

The Government of India has appointed Supratim Bandyopadhyay Mohanty, a former Reserve Bank of India (RBI) official, as the Chairman of the Pension Fund Regulatory and Development Authority (PFRDA). Mohanty was appointed to the post by the Appointments Committee of the Cabinet. He succeeds Hemant Contractor who was appointed to the post in June 2016.

Mohanty has served in the RBI for more than three decades and was the Executive Director of the central bank during his last tenure. He retired from the RBI in August 2019. He has a rich experience in the banking and financial sector, including overseeing the banking supervision and financial inclusion departments of the RBI.

PFRDA is a statutory body established by the Government of India in 2003 to regulate and promote pension schemes such as the National Pension System (NPS). It is mandated to ensure the safety of the pension funds and to provide benefits to the subscribers.