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Thursday, April 15, 2021

Former RBI deputy governor KC Chakrabarty passes away

Chakrabarty, 68 years old, was the Deputy Governor of the central bank between June 15, 2009 and April 25, 2014. He left office three months before his tenure ended.

By: Express News Service | Mumbai |
March 26, 2021 1:20:51 pm
Kamalesh Chandra Chakrabarty

Former Reserve Bank of India (RBI) Deputy Governor Kamalesh Chandra Chakrabarty passed away in Mumbai on Friday morning following a heart attack.

Chakrabarty, 68 years old, was the Deputy Governor of the central bank between June 15, 2009 and April 25, 2014. He left office three months before his tenure ended. He also served as the Chairman and Managing Director of Punjab National Bank (2007-2009) and CMD of Indian Bank (2005-2007).

Chakrabarty was candid in his views on various issues related to the banking sector and often differed from the official stance of the central bank. He was highly critical of the unethical practices and poor risk management systems in Indian banks. He was in the RBI during the governorship of D Subbarao and Raghuram Rajan.

He served as the Chairman and Managing Director of Punjab National Bank (2007-2009) and CMD of Indian Bank (2005-2007). He started his career as a banker with the Bank of Baroda where his last assignment was to head the UK operations of the bank between 2001 and 2004.

Chakrabarty, a PhD holder, began his professional career in teaching and research at the Banaras Hindu University where he taught for almost five years before joining Bank of Baroda where he worked for 26 years reaching the position of General Manager.

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