The appointment is a transitional move until the promulgation of new laws next year that will establish a new statutory body to regulate banks and insurers.
Naidoo has been serving as one of three Deputy Governors of the Reserve Bank after becoming an advisor to then governor Gill Marcus in 2013.
He also serves as a member of the Bank's monetary policy committee which regularly sets interest rates in the country's interest rates.
Besides two years in the service of the UK Treasury, he has also worked at the Development Bank of Southern Africa.
When Gandhi returned to India in 1914, Transvaal Indian Congress founder member Thambi Naidoo volunteered his four sons to go with him. One died in India and three returned to settle in South Africa to play a role in the liberation struggle for three more generations.
One of those sons who became a leading member of the Communist Party of South Africa was Naransamy 'Roy' Naidoo, in whose home Nelson Mandela was a frequent visitor.
When Prema was detained under oppressive apartheid laws in 1991, 10-year-old Kuben was at the forefront of protest action as one of the youngest opponents of apartheid.
His continued activism saw him detained as a high school student, forcing him to write his final year matriculation exams in prison.
Naidoo holds a Bachelor of Science degree as well as a Postgraduate Diploma in Public Management from Wits University, and an MBA from the University of Birmingham.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
