Rajiv Ranjan of the RBI is named vice president of the New Development Bank

Rajiv Ranjan, the executive director of India’s central bank, was named vice president of the New Development Bank (NDB), a multilateral lender created by BRICS countries, the organization announced Monday.

According to a statement, Ranjan has been the vice president for five years. The NDB website states that he will also be the chief risk officer.

An executive director and member of the monetary policy committee since May 2022, Ranjan joined the Reserve Bank of India in 1989.

Brazil, Russia, India, China, and South Africa (BRICS) formed the New Development Bank in 2015 to mobilize funds for sustainable development and infrastructure projects in developing nations and rising markets.