Khan retires, Vishwanathan takes charge as RBI Deputy Governor

A Deputy Governor is appointed for up to five years, or till he/she turns 60, whichever is earlier.

By: ENS Economic Bureau | Mumbai | Published: July 5, 2016 2:20 am

NS Vishwanathan has taken charge as the Deputy Governor of the Reserve Bank of India. He succeeded Harun Rashid Khan who retired on Monday after nearly four decades of service at the central bank.

Khan who was appointed as Deputy Governor for a term of three years in 2011, got a two-year extension in 2014. A Deputy Governor is appointed for up to five years, or till he/she turns 60, whichever is earlier. However, there have been instances when these rules have been relaxed.

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The government had last week appointed Vishwanathan, who was earlier Executive Director, as the Deputy Governor of the RBI for a period of three years from the date of his taking over charge of the post on or after July 4, 2016 or until further orders, whichever is earlier. A search committee headed by the Cabinet Secretary selected Vishwanathan.

Sudarshan Sen has taken over as the new Executive Director, RBI. He will look after Department of Banking Regulation, Department of Co-operative Bank Regulation and Department of Non-Banking Regulation.

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