Mumbai: The Reserve Bank of India (RBI) on Tuesday distributed the portfolios held by Subir Gokarn—whose extended term as deputy governor ended on Monday—among the governor and other deputy governors.
Governor D. Subbarao will look after the critical monetary policy department as well as the department of economic and policy research and department of statistics and information management, an RBI release said.
K.C. Chakrabarty will have the additional responsibility of the Rajbhasha department, the right to information division and Deposit Insurance and Credit Guarantee Corp., while Anand Sinha will look after the department of communication and the risk-monitoring department. The third deputy governor, H.R. Khan, will hold charge of the financial markets department.
A finance ministry committee is in the process of identifying Gokarn’s successor.
Gokarn joined RBI on 24 November, 2009, succeeding Rakesh Mohan. Gokarn’s three-year term, which originally came to an end on 23 November, had been extended until 31 December.
RBI has traditionally had four deputy governors. Two are promoted from within RBI’s ranks, the third is a commercial banker and the fourth an economist.