The deputy governors’ portfolios were rearranged by the Reserve Bank of India (RBI) on Friday. Poonam Gupta, who just took office, was assigned the responsibility for the crucial monetary policy department.
There are four deputy governors at the RBI. Following Gupta’s nomination and takeover as deputy governor, the central bank reorganized the portfolios. She has been tasked with overseeing seven divisions in addition to monetary policy, including business strategy and budget, communication, and financial stability.
M. Rajeshwar Rao will oversee six departments, including risk monitoring, enforcement, regulation, and coordination. After Michael Debabrata Patra retired in January, he was in charge of the monetary policy division. Twelve departments will be overseen by Deputy Governor T. Rabi Sankar.
These include, among other things, the foreign exchange department, fintech, payment and settlement systems, information technology, and the central security cell.