NS Vishwanathan: New Deputy Governor of RBI [ Current Affairs ]
NS Vishwanathan has been appointed as a deputy governor of the Reserve Bank of India (RBI) as approved by the Appointments Committee of the Cabinet (ACC) headed by Prime Minister Narendra Modi in New Delhi.
- NS Vishwanathan will serve for three years and he will succeed Harun R Khan due to his retirement from July 7, 2016 on turning 62.
About NS Vishwanathan
- Vishwanathan had served as executive director in the RBI since April 2014 earlier to this appointment.
- He was overeating banking and non-banking regulation departments.
- He also had served as Principal Chief General Manager in the Department of non-banking supervision at RBI.
- He also had served as Chief General Manager of Vigilance a Delhi-based government owned finance company IFCI Ltd.
- From September 2012 to May 2013 he also had served as a Director of Punjab National Bank (PNB).
- From May 2011 to September 2012 he also had served as nominee director at Dena Bank Ltd.
Appointments of RBI’s Deputy Governors
- The RBI has four deputy governors:
- Two from within the ranks
- One commercial banker
- One economist to head the monetary policy department
- Earlier they were designated by a panel headed by RBI Governor.
- But now they are designated based on references of the Financial Sector Regulatory Appointment Search Committee (FSRASC) regulated by Cabinet Secretary that also comprises RBI Governor.
- Currently R Gandhi and S S Mundra serving on the post of Deputy Governors of RBI and Urjit Patel as an economist.
- RBI stands for Reserve Bank of India.
- It is central banking organization in India.
- It controls the financial policy of the Indian rupee.
- It was started on 1st April 1935 during the British Rule.
- It was nationalized on 1st January 1949.
- Its four local headquarters are at Mumbai, Kolkata, Chennai and New Delhi.
- It is a leading member of the Alliance for Financial Inclusion.
- Published on: June 29, 2016