Subir Gokarn takes charge as RBI deputy governor

Subir Gokarn today took charge as the deputy governor of the Reserve Bank of India (RBI) for a three-year term in place of Rakesh Mohan, who had resigned earlier this year.

"Gokarn has been appointed deputy governor for three years from the date of his taking over. He will be the fourth deputy governor, the other three being Shyamala Gopinath, Usha Thorat and  K C Chakrabarty," RBI said in a release.

In his new post, Gokarn will look after the Monetary Policy Department, Department of Economic Analysis and Policy among others.

His role will be important as the RBI currently faces the challenge of pushing economic growth while checking inflation.

"Gokarn will also represent the Reserve Bank at the G-20 Deputies' forum," the RBI said.

Rakesh Mohan, who was reportedly in the race for the top slot in the central bank, had resigned in May this year to take up an assignment in the Stanford University in the US.

Prior to joining the RBI, Gokarn was the Chief Economist of rating agency Standard & Poor's Asia-Pacific.

He assumed this position in August 2007 after being the Executive Director and Chief Economist of Crisil, in which S&P's acquired a majority stake in 2005.