RBI Appoints Gunveer Singh as Executive Director

The Reserve Bank of India has appointed Gunveer Singh as executive director with immediate effect, placing him in charge of the Department of Payment and Settlement Systems.

Before his elevation, Singh served as chief general manager overseeing the same department, where he handled the regulation and development of India’s payments infrastructure. The RBI said Singh brings more than three decades of experience at the central bank across payment and settlement systems, banking and non-banking supervision, risk monitoring and government banking operations.

Singh has also worked internationally as a payment systems expert at the Central Bank of Oman, giving him exposure to cross-border payment systems and regulatory practices.

In his new role, Singh will supervise policy and operational oversight of the department at a time when India’s digital payments ecosystem continues to record rapid expansion. The RBI has in recent years focused on scaling Unified Payments Interface (UPI) services, improving interoperability between systems and strengthening cybersecurity safeguards across payment networks.

The central bank said Singh’s experience would support the department’s ongoing work on modernising both retail and wholesale payment systems while improving settlement infrastructure and risk management practices.

Singh is a qualified Chartered Accountant as well as a Cost and Works Accountant. The RBI said these qualifications would add further depth to his supervisory and financial expertise. His career has covered both prudential supervision and operational functions, giving him broad exposure to the functioning of India’s banking and financial sectors.

The Department of Payment and Settlement Systems plays a key role in regulating payment system operators, establishing technical and security standards and promoting interoperability across banks and non-bank entities.

With digital transactions now accounting for a growing share of retail payments in India, the department’s responsibilities have expanded into areas such as real-time gross settlement systems, central securities depositories and cross-border payment linkages.

The RBI said Singh’s background in supervision and risk monitoring would be important as the regulator seeks to balance technological innovation with financial stability and consumer protection.