Govt appoints BP Kanungo as deputy governor of RBI

New Delhi: The government on Friday appointed BP Kanungo as the deputy governor of the Reserve Bank of India (RBI), as the incumbent R Gandhi nears the end of his three-year term.

Kanungo will take charge for a period of three years or until further orders, starting April 3, 2017, according to a statement on the Department of Personnel and Training website.

He was appointed as the executive director of the RBI in March 2016. He looked after the Foreign Exchange and Bank Accounts and Internal Debt Management departments.

A career central banker, Kanungo earlier held the position of regional director at the Jaipur and Kolkata offices of the RBI. He has also served as the banking ombudsman for Madhya Pradesh and Chhattisgarh.

Kanungo holds a degree in law, and is a post-graduate in arts. He is also a certified associate of the Indian Institute of Banker.

The Appointments Committee of Cabinet (ACC) also named Dilip Shanghvi as member of the western local board of the RBI. Sanghvi, who is the promoter of Sun Pharmaceuticals Ltd. has been appointed for four years.