Drug Safety Settlement

A Ranbaxy office building is pictured in the northern Indian city of Mohali May 14, 2013. Indian generic drugmaker Ranbaxy Laboratories Ltd pleaded guilty on Monday to felony charges related to drug safety and will pay $500 million in civil and criminal fines under the settlement agreement with the U.S. Department of Justice. The settlement is its largest-ever with a generic drugmaker over drug safety, according to the U.S. government. It includes $150 million in payments for a criminal fine and forfeiture and $350 million in payments for civil claims. REUTERS/Ajay Verma (INDIA - Tags: HEALTH BUSINESS)

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The Reserve Bank of India (RBI) logo is pictured outside its head office in Mumbai July 26, 2011. REUTERS/Danish Siddiqui/Files

The Reserve Bank of India (RBI) logo is pictured outside its head office in Mumbai July 26, 2011.

Credit: Reuters/Danish Siddiqui/Files

MUMBAI | Wed Jan 2, 2013 6:00pm IST

MUMBAI (Reuters) - Urjit Patel has been appointed as a deputy governor of the Reserve Bank of India, banking secretary D.K. Mittal told Reuters on Wednesday.

Patel will replace Subir Gokarn, who was heading the monetary policy department, among others in the central bank.

Prior to his appointment, Patel was an adviser in the Boston Consulting Group.

Gokarn's term as a deputy governor ended on December 31.

(Reporting by Manoj Kumar; Editing by Subhranshu Sahu)
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