The Appointments Committee of the Cabinet on Tuesday cleared the appointment of former RBI executive director N.S. Vishwanathan as the newly-elected Deputy Governor.
Vishwanathan, who served the Indian central banking institution as an executive director, will succeed H.R. Khan as the Deputy Governor of RBI from July 3, 2016.
Meanwhile, the government has narrowed its long list of candidates for the next RBI Governor to just four.
The four short-listed candidates are RBI Deputy Governor Urjit Patel, former deputy governors Rakesh Mohan and Subir Gokarn and State Bank of India chief Arundhati Bhattacharya.
The search began after incumbent Raghuram Rajan sent ripples across the financial sector, announcing that he would not continue to head the central bank after his term expires on September 4.
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