India cbank appoints ex-chairman of state lender as deputy governor

Source : REUTERS
Last Updated: Thu, Jul 31, 2014 17:41 hrs

MUMBAI, July 31 (Reuters) - India's central bank said on Thursday it had appointed former Bank of Baroda Chairman S.S. Mundra as a deputy governor for a term of three years.

Mundra will look after departments including banking supervision, currency management, and financial stability, the Reserve Bank of India said in a statement.

This portfolio was previously handled by former deputy governor K.C. Chakrabarty, who had resigned in April.

With the appointment of Mundra, the RBI now has four deputy governors.

State-run Bank of Baroda had earlier said Mundra had stepped down as chairman and managing director effective as of Thursday. (Reporting by Neha Dasgupta)

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