H R Khan promoted to RBI deputy governor, gets three-year term

The government has appointed Harun Rashid Khan a deputy governor of the Reserve Bank of India (RBI). Khan, who gets a three-year term, will monitor the foreign exchange department, payment and settlement systems and external investments and operations, among others.

A deputy governor’s position at the central bank became vacant after Shyamala Gopinath retired on June 20. RBI has four deputy governors. They serve for five years or till the age of 62, whichever is earlier.

Khan was an executive director (ED) at RBI since October 2007. He is credited with evolving the information communication technology-based business correspondent model for financial inclusion. He chaired the RBI internal committee on rural credit and microfinance. Based on the recommendations, RBI had issued guidelines to expand banking outreach through business correspondents.

As an ED, Khan was in charge of the department of external investments and operations, the foreign exchange department and internal debt management, among others.

He joined RBI in 1978, after a Masters in political science from Utkal

University, Bhubaneswar, and an M.Phil from the School of International Studies, Jawaharlal Nehru University, Delhi.