Uma Subramaniam

{{Multiple issues| {{notability|biography|date=August 2013}} {{tone|date=August 2013}} {{BLP sources|date=August 2013}} }} {{Use Indian English|date=July 2015}} {{Use dmy dates|date=May 2026}} {{Infobox person | honorific_prefix = | name = Uma Subramaniam | honorific_suffix = | image =  | image_upright = | landscape =  | alt =  | caption = | native_name = | native_name_lang = | pronunciation = | birth_name =  | birth_date =  | birth_place = | baptised =  | disappeared_date =  | disappeared_place = | disappeared_status = | death_date =  | death_place = | death_cause =  | body_discovered = | resting_place = | resting_place_coordinates =  | burial_place =  | burial_coordinates =  | monuments = | other_names = | siglum = | citizenship = | education = | alma_mater = | occupation = | years_active = | era = | employer = | organization = | agent =  | known_for = | notable_works =  | style = | net_worth =  | height =  | television = | title =  | term = | predecessor = | successor = | party = | movement = | opponents = | boards = | criminal_charges =  | criminal_penalty = | criminal_status = | spouse =  | partner =  | children = | parents =  | mother =  | father =  | relatives = | family = | callsign = | awards = | website =  | module = | module2 = | module3 = | module4 = | module5 = | module6 = | signature = | signature_size = | signature_alt = | footnotes = }}

'''Uma Subramaniam''' is an officer of the Reserve Bank of India, who got embroiled in the sensational Rs 20 lakh scam in December 2003 by a hoax caller claiming to be the then RBI Governor Y. V. Reddy.<ref name="ML">{{cite web|url=https://www.moneylife.in/article/opaque-rbi-rewards-charge-sheeted-official/11471.html|title=Opaque RBI rewards charge-sheeted official|via=moneylife.in News|work=moneylife.in|date=23 Nov 2010|access-date=3 Jul 2021}}</ref>

==Professional career== During her long career in the Reserve Bank, Subramaniam worked as Regional Director of RBI Bhopal, and Chief General Manager of the important Departments of Banking Supervision (DBS) and Non-Banking Supervision (DNBS) at Mumbai. She also excelled as an academic in the field of banking and finance, having donned the chair of Principal of ''Reserve Bank of India Staff College'', Chennai and Vice Principal of ''Bankers' Training College'', Mumbai. She is widely respected for her erudition in the field of financial regulation. Throughout her career she had the reputation of being an honest and upright officer, who never compromised with principles of ethics. It is alleged she was framed in the scam by unscrupulous colleagues who were miffed with her strictness at workplace.

==Scandal== On 18 December 2003, Reserve Bank of India was rocked by one of the most sensational frauds in its history, when Uma Subramaniam, the then Regional Director of RBI, Bhopal, received a call from a person claiming to be a relative of the Governor Dr Y V Reddy, who "badly needed Rs 20 lakh in cash". Without verifying the identity of the caller, Uma Subramaniam arranged the money by asking her employees to immediately withdraw their cash. Subramaniam herself went in an autorickshaw and handed over the cash to the unknown person, who quietly walked away. Later it was discovered that the "Governor's relative" was an impostor. However, the identity of the impostor was never revealed, and the case still remains a mystery. Although the amount involved was small, the modus operandi of the fraud and its subsequent ramifications were unparalleled in the history of Indian banking and finance system.

==Subsequent controversy== Subramaniam was charge-sheeted following a departmental enquiry and was demoted from CGM rank to GM due to her gross negligence of duty. But subsequently she found favor with the RBI Top Management and was not only reinstated to her earlier position, but also given important portfolios like supervision and regulation of commercial banks and NBFCs.<ref>{{cite web|url=http://www.moneylife.in/article/opaque-rbi-rewards-charge-sheeted-official/11471.html|title= Opaque RBI Rewards Charge-sheeted Official}}</ref> Her career was revived by the then Deputy Governor of RBI Shyamala Gopinath and she got promoted in 2007. Although she herself had once been embroiled in an act of financial irregularity, she was now given the charge of Monitoring of Fraud in NBFCs, an area where she had proved her efficiency.<ref>{{cite web|url=http://rbi.org.in/scripts/BS_CircularIndexDisplay.aspx?Id=7037|title=Monitoring of Fraud by NBFCs|access-date=18 August 2013|archive-date=29 October 2013|archive-url=https://web.archive.org/web/20131029052031/http://rbi.org.in/scripts/BS_CircularIndexDisplay.aspx?Id=7037|url-status=dead}} RBI Circular dated 2 March 2012</ref>

==Important assignments== * Principal, Reserve Bank of India Staff College, Chennai * Member Secretary, RBI's [https://archive.today/20130818205909/http://articles.timesofindia.indiatimes.com/2011-03-08/india-business/28668384_1_nbfcs-finance-industry-development-council-mahesh-thakkar NBFC Rule Review Panel (March 2011)] * Vice Principal, ''Bankers' Training College'', Mumbai

==Notes== {{Portal|Banks}} {{Reflist}}

{{DEFAULTSORT:Subramaniam, Uma}} Category:Reserve Bank of India Category:Indian women bankers Category:Indian bankers Category:Bank fraud Category:Businesspeople from Mumbai Category:Businesswomen from Maharashtra Category:Living people Category:Year of birth missing (living people)