The Reserve Bank of India (RBI) has reshuffled the portfolios of its deputy governors with R. Gandhi tasked with overseeing the foreign exchange department and financial market regulation, in place of H.R. Khan who retired on Sunday.
Mr. Khan’s replacement N.S. Vishwanathan, who assumed office on Monday, will be responsible for banking and non-banking regulation, responsibilities that were earlier held by Mr. Gandhi.
Mr. Gandhi will however continue to handle currency management and the legal department.
Mr. Vishwanathan also gets Secretary’s department which was with Mr. Khan.
Mr. Khan, who was a deputy governor for five years, completed his term on Sunday.
Mr. Vishwanathan, who was elevated from an Executive Director’s post, has been given a three-year term. As ED he was in charge of the banking and non-banking regulation departments.
“The Government of India, on June 29, 2016 has appointed him (Mr. Vishwanathan) as the Deputy Governor of 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,” the central bank said in a communication.
New EDThe central bank has also appointed Sudarshan Sen as the new Executive Director who will look after banking and non-banking regulation.
While EDs are appointed by the RBI, Deputy Governors and the Governor of the central bank are appointed by the Centre. The RBI has 11 Executive Directors and four Deputy Governors.
