RBI gets new Deputy Governor

Standard and Poor's Asia-Pacific Chief Economist Subir Gokarn, who will be the new Deputy Governor of the Reserve Bank of India. File photo: Shanker Chakravarty

Global rating agency Standard and Poor’s (S&P) Asia-Pacific Chief Economist Subir Gokarn will be the new Deputy Governor of the Reserve Bank of India (RBI), Finance Minister Pranab Mukherjee said here on Wednesday.

The post of Deputy Governor (for economist) in the RBI has been lying vacant since mid-June after Rakesh Mohan quit months ahead of his retirement. The apex bank traditionally has four deputy governors.

At present, the other three deputy governors include Usha Thorat, K. C. Chakrabarty and Shyamala Gopinath.

Before joining S&P in August 2007, Mr. Gokarn was Chief Economist with S&P’s Indian arm Crisil. He had also worked as an economist with the think-tank National Council of Applied Economic Research.