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.
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".
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.
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.