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Friday, October 23, 2020

RBI reallocates Deputy Governors’ portfolios

Rao was appointed to the post vacated by NS Vishwanathan, who stepped down three months ahead of his extended tenure. Rao was Executive Director of the Reserve Bank before being elevated to the post of the Deputy Governor.

By: ENS Economic Bureau | Mumbai | October 13, 2020 4:55:17 am
RBI, Reserve Bank of India, RBI deputy governors, deputy governors RBI, Indian ExpressDeputy Governor MD Patra will look after the Monetary Policy Department.

The Reserve Bank of India (RBI) on Monday reallocated portfolios of Deputy Governors with the Department of Regulation entrusted to the newly-appointed M Rajeshwar Rao.

Rao was appointed to the post vacated by NS Vishwanathan, who stepped down three months ahead of his extended tenure. Rao was Executive Director of the Reserve Bank before being elevated to the post of the Deputy Governor. He will look after the departments of communication, enforcement, inspection, legal, and risk monitoring, the RBI said.

Deputy Governor MD Patra will look after the Monetary Policy Department. His other portfolios include department of economic and policy research, Deposit Insurance and Credit Guarantee Corporation, financial markets operations department and financial markets regulation department.

Deputy Governor MK Jain will look after the central security cell, corporate strategy and budget department, consumer education and protection department, department of supervision, and human resource management department, among others. BP Kanungo, Deputy Governor, will oversee coordination, currency management, external investments and operations, etc.

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