Andhra Pradesh Government today appointed eminent finances expert and chartered accountant K. Narasimha Murthy as Advisor (Financial Services) to the government in the rank of Special Chief Secretary. He has already been working as Chairman of Financial Ponzi Schemes and Member of Fiscal Management Committee of Government of Andhra Pradesh.
Murthy, having brilliant academic record, getting ranks in both CA & ICWA courses entered the Profession of Cost & Management Accountancy in 1983. He is associated with the development of Cost & Management Information Systems for more than 175 Companies covering more than 50 Industries. He is closely involved with several National level Institutions, presently on the Boards of Oil and Natural Gas Corporation Ltd., STCI Finance Ltd., Infiniti Retail Limited (Tata Croma), Max Life Insurance Company Ltd., Max Healthcare Institute Ltd., Max Bupa Health Insurance Co. Ltd., Max Specialty Films Ltd..
In addition, he is associated as Member Tirumala Tirupati Devasthanams Internal Audit & Investment Committees. Earlier he was associated as a Director with IDBI Bank Ltd.(2001-'11), LIC Housing Finance Ltd.(2005-'15), UTI Bank Ltd., (presently AXIS Bank)(1999-2004), Member Board of Supervision NABARD (2005-'15), Unit Trust of India (UTI)(2002-'03), IFCI Ltd.(2008-'09), AP State Finance Corporation (2009-'15), APIDC Ltd., Bombay Stock Exchange etc.
As Chairman of Expert Committee on Urban Co-op. Banks (UCBs)(2002) in A.P., analysed the performance of more than 140 UCBs. Recommendations of the Committee are well received / accepted, being implemented by the concerned agencies. He has been associated with more than 32 High Level Committees as Chairman / Member both at National & State Level, which include Audit Reforms Implementation Committee on Public Sector Banks, Prasara Bharati Restructuring Committee, Expert Committee on Common Wealth Games, Restructuring Committee of State Level PSUs, Expert Committee on Co-op. Credit Institutions, Fiscal Reforms Implementation Committee, TTD Investment Committee – Tirupati etc., He is also associated with the development of Cost Accounting Record Rules for many Industries as a member of Informal Advisory Committee, Dept. of Corporate Affairs, Govt. of India. His efforts in the furtherance of Costing & Management Accounting Profession in India were recognised by the Institute of Cost & Works Accountants of India (ICWAI) which has honoured him by giving citation in October 2007. Recently, he is nominated as Chairman of the Expert Committee on Financial Ponzi Schemes by Government of Andhra Pradesh.