Subir Gokarn retires as RBI deputy governor
01 Jan 2013
Subir Gokarn, deputy governor of the Reserve Bank of India (RBI) in charge of monetary policy, has retired amidst indications that economist Urjit Patel and World Bank economist Kalpana Kochhar are among three candidates being considered for the post.
The other candidate is Gokarn himself, official sources said today, adding that a decision is expected tomorrow.
Governor D Subbarao will now be directly in-charge of the monetary policy department, which looks after policy issues, including interest rate.
Gokarn's exit comes at a time when he third quarter review of monetary policy is scheduled to be announced on 29 January.
RBI governor in the last policy review had indicated that there could be softening of policy rate in the January policy.
Gokarn's three-year term ended in November 2012, but the government had given him one-month extension, which expired on 31 December 2012.
