Mumbai: KC Chakrabarty, chairman and managing director of Punjab National Bank, has emerged as the frontrunner for the post of deputy governor of the Reserve Bank of India. The position has been vacant since V. Leeladhar retired in December 2008.
The RBI search panel, headed by governor D. Subbarao, met with five bank chiefs. Finance ministry officials said on condition of anonymity that Chakrabarty is the most preferred candidate while Bank of India chairman and managing director T. S. Narayanasami is the second choice for the panel, which has sent the two names to the finance ministry. After the finance ministry decides on a name, the Prime Minister’s office will have to clear the appointment.
The panel also includes finance secretary Arun Ramanathan, secretary of the department of personnel and training Rahul Sareen, former State Bank of India (SBI) chairman Janki Ballabh and former RBI deputy governor Vepa Kamesam.