BUSINESS

Post Acharya’s exit, RBI rejigs portfolios

With Deputy Governor of the Reserve Bank of India (RBI) Viral Acharya demitting office on Tuesday, the central bank has allocated his portfolios to other Deputy Governors.

Deputy Governor B.P. Kanungo gets the all-important monetary policy department, which means he will be a member of the six-member monetary policy committee (MPC) which sets interest rates by voting.

The central bank will announce the review of its monetary policy on August 7. Another important department, the financial markets department that Mr. Acharya was handling, will now be headed by Deputy Governor N.S. Viswanathan.

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