Mumbai: The government’s appointments committee has cleared the appointment of N.S. Vishwanathan as a deputy governor of the Reserve Bank of India (RBI). Vishwanathan will take over from H.R. Khan, who retires on 3 July. Vishwanathan has been executive director at RBI since 2014.

Khan was appointed deputy governor in 2011 and has since been managing portfolios including payment and settlement systems, foreign exchange and internal debt management. Khan has been an RBI lifer and joined the central bank in 1978.

Khan has been seen as instrumental in framing the central bank’s strategy on foreign exchange management and on the management of government debt.

Vishwanathan, who will take over from Khan, has been overseeing the banking and non-banking regulation departments.

RBI has four deputy governors with two of them being appointed from the outside. The other two are typically promoted from within RBI. Urjit Patel, S.S. Mundra and R. Gandhi are the other three deputy governors at present.

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