Government appoints S S Mundra as RBI deputy governor → Hell take over as the fourth Deputy Governor of RBI after K C Chakrabarty resigned mid-tenure The government has appointed S S Mundra, chairman and managing director of Bank of Baroda as the deputy governor of the Reserve Bank of India (RBI). Mundra (60), who will assume charge as deputy governor on Thursday, has been given a three-year term. Mundra assumed the charge as Chairman and Managing Director of Bank of Baroda in January, 2013. Prior to his elevation as Chairman and Managing Director of Bank of Baroda, he was the Executive Director of Union Bank of India. One of the deputy governors post in RBI fell vacant after KC Chakrabarty retired nearly three months before schedule in the last week of April. Of the four DGs, two are selected from outside RBI and the other two from within. Of the two outsiders, one is a commercial banker and the other is an economist. Earlier in July, RBI deputy governor was re-appointed Harun Rashid Khan as the Deputy Governor of the Reserve Bank of India, for a further period of two years with effect from July 4, 2014. Born on 18th July, 1954, Mundra holds a Masters Degree in Commerce and is a Certified Associate of Indian Institute of Banking & Finance (CAIIB). He started his career as a Probationary Officer in Bank of Baroda in 1977 and has over three decades of experience in Banking. He has held wide range of responsibilities in Domestic as well as International Operations of the Bank, in various capacities before his elevation as Executive Director of Union Bank of India in 2010. Mundra has also held key leadership positions as Zonal Head of Maharashtra & Goa Zone. He was also the Chief Executive of Bank of Baroda’s UK Operations for a period of 3 years. The central bank is planning to have one more deputy governor (DG); this would need a change in the rules. Till the time this is done, RBI has proposed to appoint an officer on special duty or chief operating officer with the rank of a DG. In April, the government appointed R Gandhi as deputy governor of the Reserve Bank of India (RBI). Gandhi, 58, who was handed over a three-year term, succeeded Anand Sinha who retired in January.
Posted on: Thu, 31 Jul 2014 10:49:46 +0000
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