Education

RBI Deputy Guv Kanungo steps down

  • As a deputy governor, Kanungo was in control of the division of forex administration, fee and settlement, and overseas change, amongst others.

By Gopika Gopakumar, Mumbai

PUBLISHED ON APR 03, 2021 03:54 AM IST

Reserve Financial institution of India (RBI) deputy governor B.P. Kanungo stepped down on 2 April after finishing his time period, chopping quick all expectations of an extension of his tenure.

As a deputy governor, Kanungo was in control of the division of forex administration, fee and settlement, and overseas change, amongst others.

Kanungo was appointed deputy governor in 2017 for 3 years. His time period was prolonged by one 12 months in 2020.

Kanungo’s retirement comes at a time when the federal government is planning to introduce the Cryptocurrency and Regulation of Official Digital Foreign money Invoice, 2021, in Parliament. The RBI can be within the midst of popping out with a number of laws round fee and fintech.

Final month the federal government cancelled interviews for the appointment of a deputy governor, which triggered expectation that Kanungo might be given an extension.

Kanungo, a profession central banker, joined the RBI in September 1982. He has labored in a number of purposeful areas of the banks, together with banking and non-banking supervision, authorities and financial institution accounts and public debt.

The time period of RBI governor Shaktikanta Das can even come up for renewal this 12 months. Das was appointed in December 2018 for 3 years after the shock resignation of Urjit Patel.

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