March 20, 2014 / 4:33 PM / 4 years ago

RBI deputy governor resigns before end of term

MUMBAI (Reuters) - The Reserve Bank of India’s (RBI) Deputy Governor Kamalesh Chandra Chakrabarty has submitted his resignation because of personal reasons, the RBI’s spokeswoman said on Thursday.

The deputy governor asked the finance ministry, which is in charge of central bank appointments, to be relieved of his position by April 25, earlier than the end of his term on June 30, according to the spokeswoman.

“Dr. Chakrabarty has requested for slightly earlier departure,” said the spokeswoman in a message, attributing the request to “personal reasons,” without providing more details.

Chakrabarty was appointed as deputy governor at the RBI on June 2009 for three years and received a two-year extension in 2012. He looked after key departments, including banking supervision, currency management, and financial stability.

Chakrabarty is currently one of three deputy governors at the central bank, following the retirement of Deputy Governor Anand Sinha in January.

Chakrabarty’s resignation comes before the central bank is due to hand out new bank licences, expected within the next couple of weeks, although he was not directly in charge of the selection process.

Reporting by Neha Dasgupta; Editing by Rafael Nam

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