New RBI Deputy Governor Swaminathan Janakiraman Gets Six Departments
Newly-appointed Reserve Bank Deputy Governor Swaminathan Janakiraman will look after six departments, including supervision and financial inclusion, the central bank said in a release on Monday.
Mumbai, June 26: Newly-appointed Reserve Bank Deputy Governor Swaminathan Janakiraman will look after six departments, including supervision and financial inclusion, the central bank said in a release on Monday.
Janakiraman replaced M K Jain who recently demitted office after completion of his term. The other portfolios allocated to Janakiraman are Inspection Department, Premises Department, Rajbhasha Department, and Consumer Education and Protection Department. SBI MD Swaminathan Janakiraman Appointed RBI Deputy Governor.
Deputy Governor M D Patra will supervise 11 departments in the central bank, including the departments of monetary policy and financial stability. Deputy Govenor M Rajeshwar Rao has been assigned with five departments while T Rabi Sankar has assigned with the work of 11 departments. RBI Imposes Penalty of Rs 3 Crore on Tirumala Tirupati Devasthanam for Violation of FCRA Guidelines.
According to the RBI Act, 1934, Reserve Bank of India should have four deputy governors -- two from within the ranks, one commercial banker and an economist to head the monetary policy department.
The other three deputy governors are Michael Debabrata Patra, M Rajeshwar Rao and T Rabi Sankar. The deputy governor appointments are made for an initial period of three years, and the person is eligible for reappointment.
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