Vinod Rai assumes charge as CAG

Vinod Rai, a 1972 batch IAS officer of Kerala cadre, took oath on Monday as the country's new Comptroller and Auditor General of India. Rai, who replaced V N Kaul, was administered the oath of office by President Pratibha Patil at a brief function at Rashtrapati Bhawan.

Vice President Hamid Ansari, Prime Minister Manmohan Singh and Finance Minister P Chidambaram were among the dignitaries present at the ceremony.

Rai, who was hitherto the financial services secretary, refused to share his priorities with the media, but said that he was accepting the assignment "with deep humility... (and) I am looking forward to the job. It is an important assignment."

He has been appointed for a term of six years or till he attains the age of 65 years, as per an official statement. He will turn 60 on May 23, 2008.

Rai served as the managing director of Kerala State Co-operative Marketing Federation from 1977 to 1980. Since 1980 he has held various positions in different ministries.

Prior to taking over as financial services secretary, Rai was additional secretary in the banking division of the finance ministry. He holds Master's Degree in Economics from the University of Delhi and Master's in Public Administration from Harvard University. Kaul, after completing his term as CAG, has moved to the UN's Independent Audit Advisory Committee.