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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MUMBAI | Mon Jan 14, 2013 8:37pm IST

MUMBAI (Reuters) - The Reserve Bank of India said on Monday that newly appointed Deputy Governor Urjit Patel will look after the bank's monetary policy department and financial markets among other functions.

Earlier in the day, the central bank said Patel has taken over as a deputy governor in a three-year tenure.

Patel will also look after the departments of economic policy and research, communication and statistics and information management among others, the RBI said in a statement.

Patel replaced Subir Gokarn, who headed the monetary policy department and whose term as a deputy governor ended on December 31. (Reporting by Shamik Paul; Editing by John Stonestreet)
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