RBI allocates portfolios to 4 deputy governors

By: |
May 03, 2021 10:21 PM

Earlier in the day, Sankar took over as the fourth Deputy Governor of Reserve Bank of India for a period of three years.

RBIExchange gain/ loss from forex transactions, are the fallout of rupee depreciation; when RBI sells dollars, it sells them at current rates and books profits since the cost of acquisition of these dollars is taken as the weighted average historical cost.

The newly-appointed Deputy Governor T Rabi Sankar will look after eight departments, including currency management, information technology, and foreign exchange, the Reserve Bank of India said on Monday.

Earlier in the day, Sankar took over as the fourth Deputy Governor of Reserve Bank of India for a period of three years. He was Executive Director of the Reserve Bank before being elevated to the post of Deputy Governor.

Consequent on appointment of Sankar as Deputy Governor, the central bank rejigged the portfolios of deputy governors.

The key monetary policy department remains with M D Patra.

Sankar will also look after, departments of external investments and operations, government and bank accounts, payment and settlement systems, and internal debt management, besides Right to Information (RIA) Division.

There are nine departments under deputy governor M K Jain. They include, departments of co-ordination, central security cell, consumer education and protection, supervision, human resource management, and rajbhasha.

Patra will look after corporate strategy and budget department, department of economic and policy research, department of statistics and information management, Deposit Insurance and Credit Guarantee Corporation, financial markets operations department, and financial stability unit, among others.

There are six departments under deputy governor M Rajeshwar Rao. He has been assigned with department of regulation, department of communication, enforcement department, inspection department, legal department and risk monitoring department.

Sankar fills the vacancy created by the retirement of B P Kanungo on April 2, after completing one-year extension.

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