The government on Friday appointed BP Kanungo as a deputy governor of the Reserve Bank of India (RBI), to replace R Gandhi whose three-year term ends this month.
Kanungo will take charge for a period of three years or until further orders, starting April 3, 2017, according to a statement on the Department of Personnel and Training website.
Gandhi was in charge of currency management, foreign investment, payment & settlement, and foreign exchange department. He briefly handled the monetary policy department when Urjit Patel was elevated as RBI governor. Deputy Governor Viral Acharya took over the monetary policy department after his appointment late last year.
Kanungo was named as executive director of the RBI in March 2016. He looks after the foreign exchange and bank accounts and internal debt management departments.
A career central banker, Kanungo has held charge of regional director at the Jaipur and Kolkata offices of the RBI. He has also served as the banking ombudsman for Madhya Pradesh and Chhattisgarh.
The Appointments Committee of Cabinet (ACC) also named Dilip Shanghvi as a member of the western local board of the RBI. Shanghvi, the promoter of Sun Pharmaceuticals Ltd., has been appointed for four years.
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