N S Vishwanathan gets extension by one year as RBI deputy governor

Shwanathan is known to be one of the key architects behind the revised norms

Reserve Bank of India (RBI) Deputy Governor N S Vishwanathan has been given a one-year extension by the government, according to an official announcement by the Ministry of Personnel. 

Vishwanathan was to retire on July 3, but before that could happen, another Deputy Governor Viral Acharya quit. Acharya’s resignation was accepted by the ministry last week.  The government and the RBI had started looking for a replacement of Vishwanathan and a few internal candidates were identified, according to sources. 

According to RBI law, of the four deputy governors, two are outside specialists — usually an economist and a career banker,