RBI's Deputy Governor B P Kanungo retires

Reserve Bank of India's (RBI) Deputy Governor B P Kanungo has stepped down as his term ended on Friday, April 2.

Kanungo took charge as deputy governor of the central bank in April 2017. His term was set to expire in April 2020 but was given a one-year extension with effect from April 3, 2020.

With Kanungo's retirement, expectations of him getting another extension have also come to an end, Mint reported.

Kanungo was incharge of currency management, external investments, operations, payment, and settlement system, among others, as the deputy governor.

Mahesh Kumar Jain, M D Patra, and Rajeshwar Rao are the other deputy governors of the central bank.

Earlier, there were reports that RBI had canceled interviews for the post of deputy governor, scheduled for March 10, leading to speculations that Kanungo would get an extension.

Also read: Monetary Policy 2021: 5 risk factors before Monetary Policy Committee

Also read: Why telecom equipment market might get localised in 5G era?