Former CAG of India
Mr. Vinod Rai joined the Indian Administrative Service in 1972 and was from the Kerala cadre. In January 2008, he was appointed the eleventh Comptroller and Auditor General of India. After a very active and illustrious tenure as the C & A G , he demitted office in May 2013.
Mr Vinod Rai has wide experience of working in various capacities in the State Government of Kerala as well as in the Federal Government . His assignments in the State Government included stints as Secretary (Agriculture), Principal Secretary (Finance) and Managing Director, Kerala State Cooperative Marketing Federation . As head of the Cooperative Marketing Federation, he was instrumental in setting up a massive network of primary societies to procure raw cashew nuts. This was then processed in Cashew factories and exported to different parts of the globe. The Federation under his tenure emerged as the largest exporter of Black Pepper and other spices from the country. The export turnover of the Federation increased rapidly to be higher than that of any private company at over Rs 10 billion. Later, he took over as the Managing Director of Kerafed and set up plants to process and solvent extract coconut. The company produced and marketed packaged coconut products .
At the Federal level also, Mr Vinod Rai has held senior positions .Working in the Federal 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 development of exports. Later as Secretary in the Ministry of Finance he initiated reforms in the Banking, Insurance and Pensions sector. He has 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.
Mr Vinod Rai took over as the Comptroller & Auditor General of India on 7th January 2008. As the Comptroller and Auditor General his responsibilities in the international arena included Chairmanship of the U.N. Panel of External Auditors and membership of the Governing Board of the International Organization of Supreme Audit Institutions (INTOSAI). Mr Rai was also the Chairman of the Governing Board of the Asian Organisation of Supreme Audit Institutions(ASOSAI). He demitted the office of the Comptroller and Auditor General of India on 22nd May 2013.
Mr Rai is presently a Visiting Senior Research Fellow at the Institute of South Asian Studies, in the National University of Singapore.
In recognition of his vast experience in the Financial Sector he has been appointed as the first Chairman of the newly created Banks Board Bureau, The Bureau has been entrusted with undertaking critical reforms in Public Sector Banks of the country, suggesting strategies for resolving the stressed assets that they are confronted with and devising policies for consolidation of these banks.
He has authored a book titled “” Not just an Accountant””, which has been a huge attraction among informed readers.