N.S. Vishwanathan reappointed RBI deputy governor for one year

Mumbai: N.S. Vishwanathan on Monday was reappointed as deputy governor of the Reserve Bank of India.

The Appointments Committee of Cabinet has approved the extension of Vishwanathan's term as RBI deputy governor by one year with effect from 4 July this year, the order issued by the Personnel Ministry said.

His tenure was to end Wednesday, 3 July .

Vishwanathan is in charge of regulation of banks, non-banking finance companies and cooperative banks.

Vishwanathan's reappointment has caught many RBI watchers by surprise as they were expecting him to superannuate next month.

Last week, the RBI announced the resignation of Viral Acharya as deputy governor six months ahead of schedule. Rumours over Acharya's resignation have been swirling since Urijit Patel resigned as RBI governor last year following a prolonged confrontation with the government over a number of issues. In many of these confrontations, Acharya was viewed as Patel’s supporter. It was considered only a matter of time before Acharya also put in his papers.

Besides Vishwanathan, the other deputy governors of the RBI include B.P. Kanungo and M.K. Jain.