Four verticals for each of the deputy governors

As a part of its organisational restructuring, the central bank has created four verticals which will be looked after by each of the deputy governors. In the new scheme, Deputy Governor H R Khan will look after financial markets and infrastructure, while Urjit R Patel has been given the charge of monetary policy and research.

Banking supervision and regulation has also been separated in two distinct verticals, with R Gandhi in-charge of the regulation and risk management. S S Mundra has been assigned with the responsibility of supervision and inclusion.

Earlier, RBI had increased the number of executive directors to 11 from 9 – which was a part of the restructuring programme. However, to implement the proposal for a chief executive officer with the rank of a deputy governor, RBI Act will have to be amended.