B P Kanungo takes charge as deputy governor at RBI

MUMBAI: BP Kanungo has taken charge as deputy governor of the Reserve Bank of India on Monday. Kanungo replaces retiring deputy governor, R Gandhi.

Significantly, Kanungo will look after crucial department of external investment and operations at a time when RBI has been working over time to stabilise the value of the rupee against the dollar which has gained close to 5% since January this year, besides the payments and settlements systems among others.

The government had already notified his appointment on March 11, 2017 as deputy Governor of the Reserve Bank of India, for a period of three years from the date of his taking over charge of the post on or after April 3, 2017 or until further orders, whichever is earlier.

Kanungo was executive director at the central bank before being elevated to the post of deputy governor. He will also look after the department of currency management, department of government & bank accounts, department of Information Technology, foreign exchange department, internal debt management department, legal department and premises department.