Ex-chairman of Bank of Baroda appointed deputy RBI governor

MUMBAI (Reuters) - The Reserve Bank of India (RBI) said on Thursday it had appointed former Bank of Baroda Chairman S.S. Mundra as a deputy governor for a term of three years.

Mundra will look after departments including banking supervision, currency management, and financial stability, the RBI said in a statement.

This portfolio was previously handled by former deputy governor K.C. Chakrabarty, who had resigned in April.

With the appointment of Mundra, the RBI now has four deputy governors.

State-run Bank of Baroda had earlier said Mundra had stepped down as chairman and managing director effective as of Thursday.

(Reporting by Neha Dasgupta)