Urjit Patel takes over as RBI deputy governor

Urjit Patel has taken over as the deputy governor of the Reserve Bank of India. Patel, the fourth deputy governor after K C Chakrabarty, Anand Sinha and Harun R Khan, will hold office for three years from 11 January 2013.

Patel will look after, among other functions, policy and research, department of statistics and information management, monetary policy department, financial markets department, deposit insurance and credit guarantee corporation, rajbhasha department and right to information division.

K C Chakrabarty will be in charge of customer service department, department of banking supervision, department of currency management, financial stability unit, human resource management department, rural planning and credit department, secretary's department and co-ordination work.

Anand Sinha has been given charge of the department of banking operations and development, department of expenditure and budgetary control, department of information technology, department of non-banking supervision, legal department, premises department, urban banks department and risk monitoring department.

H R Khan will be in charge of the central security cell, department of external investments and operations, department of government and bank accounts, department of payment and settlement systems, foreign exchange department, internal debt management department and inspection department.

Prior to his appointment as the deputy governor of the Reserve Bank, Patel was advisor (energy and infrastructure), The Boston Consulting Group.