RBI chief to handle monetary policy department
MUMBAI (Reuters) - The Reserve Bank of India said on Tuesday the monetary policy department will directly report to Governor Duvvuri Subbarao till further orders, with Subir Gokarn's term as a deputy governor coming to a close.
The departments of economic and policy research and statistics and information management will also report to the governor, the central bank said in a statement.
Gokarn's three-year term was supposed to end on November 24, but was extended to December 31. He was in charge of the monetary policy department among others, and also represented the RBI at the G-20 Deputies' forum.
(Reporting by Shamik Paul; Editing by Sunil Nair)
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Government officials painted an upbeat picture for the economy on Thursday as it struggles to emerge from the longest spell of sub-par growth in decades and promised to tighten up risk management at the country's dominant state banks. Full Article