Mumbai: Reserve Bank of India (RBI) deputy governor Anand Sinha’s term has been extended by one year after a government notification to that effect, a central bank spokesperson said.
Sinha’s two-year term as deputy governor would have ended this month. The government notification means he will continue till 18 January 2014.
“The government has said that Sinha will continue for another year and we are issuing the release shortly,” the RBI spokesperson said.
At RBI, Sinha is in charge of two regulatory departments—the department of banking operations and development (DBOD), which governs banks in the country, and the urban banks department.
He was instrumental in framing guidelines for new banks that were released on Friday.
He also looks after the departments of information technology, expenditure and budgetary control, inspection, legal and premises.
Before being appointed deputy governor in January 2011, Sinha was executive director at RBI looking after DBOD, the financial stability unit and the department of expenditure and budgetary control.