RBI deputy governor Kanungo formally takes charge

Mumbai: B.P. Kanungo, a long-serving official with India`s central bank, took over as a deputy governor of the Reserve Bank of India on Monday for a three-year term, overseeing a portfolio including currency management, debt management, and payment and settlements.

Kanungo`s appointment was announced by the government on March 11. He will replace R. Gandhi as one of four deputy governors at the RBI.

Kanungo, 57, started at the RBI in 1982 and has worked in several departments including foreign exchange management, the central bank said in the statement. He was most recently executive director before his promotion.