Ray, who took charge as Corporate Affairs Secretary in August, replaces his predecessor Anjuly Chib Duggal on the Sebi board.
According to an order issued by the Finance Ministry, Ray has been appointed to the board of Securities and Exchange Board of India (Sebi).
Besides the Chairman and three Whole-Time Members, the eight-member board of Sebi also has nominees of the Finance Ministry and RBI and a part-time independent member.
A Gujarat-cadre civil servant, Ray has done his post graduation in Public Policy and International Affairs and holds diplomas in German language, international law and international business.