Portfolio reshuffle of four RBI deputy governors likely before April

A reshuffle of portfolios held by the four deputy governors (DGs) of the Reserve Bank of India (RBI) is seen as part of efforts to find a solution to the vexed issue of bringing 12 state-run banks out of the Prompt Corrective Action (PCA) framework and the controversial February 12 circular.

Of particular import is the portfolio of the highly sensitive Department of Banking Regulation (DBR) under the charge of N S Vishwanathan, now the senior-most of the four DGs. A key irritant between Mint Road and North Block is PCA and the February circular, on which he has refused to