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Home / News / India /  RBI reshuffles portfolios of deputy governors after B P Kanungo's retirement

NThe Reserve Bank of India on Monday reshuffled the portfolio of BP Kanungo among remaining deputy governors after he retired on 2 April.

The former senior-most deputy governor, Kanungo joined the RBI in 1982 and was in charge of currency management, external investments, operations, payment, and settlement system, among others, during the four-year term as the deputy governor, which began in April 2017.

The government had appointed him as a deputy governor in March 2017 when Urjit Patel was the governor and he took charge on April 3, 2017, for a three-year term ending April 2, 2020, but was given a one-year extension.

Before being elevated as an executive director, he also served as the head of regional offices of the Reserve Bank in Jaipur and Kolkata, besides holding the position of the banking ombudsman for Madhya Pradesh and Chhattisgarh.

Born in May 1959 in Odisha, he has a Master's degree in humanities from Utkal University and a Bachelor's degree in law.

With his retirement, the RBI is left with three deputy governors -- Mahesh Kumar Jain, Michael Patra and Rajeshwar Rao, who was recently appointed.

The following will be the portfolios of the Deputy Governors with effect from April 5, 2021:

M. K. Jain: 1. Co-ordination, 2. Central Security Cell, 3. Consumer Education and Protection Department, 4. Department of Information Technology, 5. Department of Supervision, 6. Financial Inclusion and Development Department, 7. Human Resource Management Department, 8. Premises Department, 9. Rajbhasha Department, 10. Right to Information (RIA) Division 11. Secretary’s Department.

Dr. M. D. Patra: 1. Corporate Strategy and Budget Department, 2. Department of Economic and Policy Research, 3.

Department of External Investments & Operations, 4. Department of Government and Bank Accounts, 5. Department of Statistics and Information Management, 6. Deposit Insurance and Credit Guarantee Corporation, 7. Financial Markets Operations Department, 8. Financial Markets Regulation Department, 9. Financial Stability Unit, 10. International Department, 11. Monetary Policy Department.

M. Rajeshwar Rao: 1. Department of Regulation, 2. Department of Communication, 3. Department of Currency Management, 4. Department of Payment and Settlement Systems, 5. Enforcement Department, 6. Foreign Exchange Department, 7. Inspection Department, 8. Internal Debt Management Department, 9. Legal Department, 10. Risk Monitoring Department.

Governor Shaktikanta Das' three-year term will also come up for renewal in December.

Das took charge on December 11, 2018, after Urjit Patel's surprise resignation nine months before his three-year term was to end reportedly over sharp differences with the government over a host of issues.

With inputs from PTI

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