You are here: Home » Finance » News » Banks
Business Standard

RBI rejigs portfolios after T Rabi Sankar's appointment as deputy governor

Sankar succeeded BP Kanungo, who retired on April 2 after getting a one-year extension in his position

RBI | Reserve Bank | Central bank

Subrata Panda  |  Mumbai 

The RBI was at the forefront of providing stimulus to the economy last year, while the Narendra Modi-led government followed with modest fiscal steps

After the appointment of T Rabi Sankar as deputy governor, the of India (RBI) redistributed the portfolios of the deputy governors. Sankar succeeded BP Kanungo, who retired on April 2 after getting a one-year extension in his position.

Sankar has been given portfolios such as the department of currency management, external investments and operations, government and bank accounts, information technology, payment and settlement systems, foreign exchange department, internal debt management, and right to information division.

Sankar was in charge of the payments system, fintech, information technology, and risk management. As a part of the reshuffle, MK Jain will now be in charge of central security cell, consumer education, department of supervision, financial inclusion and development, human resource.

Michael Debabrata Patra will head portfolios such as department of economy and policy research, department of statistics and information management, deposit insurance and credit guarantee corporation, financial markets operation, financial markets regulations, financial stability unit, monetary policy department, and international department. M Rajeshwar Rao will be handling regulation, communication, enforcement, inspection, legal and risk monitoring department.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, May 03 2021. 19:53 IST