The government has appointed R Gandhi as deputy governor of the Reserve Bank of India for a period of three years from April 3.
Gandhi, who is currently an executive director (ED), will look after the portfolios of departments of banking operations and development (DBOD), non-banking supervision, urban banks, expenditure and budgetary control, information technology, legal, premises and risk monitoring.
Gandhi has come in place of Anand Sinha who retired on January 20, 2014.
A search panel appointed by the government had shortlisted Gandhi more than two months ago. However, the appointment was hanging fire as Gandhi’s selection led to some controversy with the department of personnel and training raising questions about the exclusion of G Gopalakrishna, the senior most ED in the RBI, from the list. After Sinha retired, RBI deputy governor HR Khan was given interim charge of the DBOD, which is looking after the banking licence process.
Khan’s three-year term ends in July, but he is eligible for an extension. Another deputy governor, KC Chakrabarty, had resigned recently.