S S Mundra to be fourth deputy governor of RBI
S S Mundra (60), Chairman and managing director of Bank of Baroda, is set to be appointed as the fourth deputy governor of the Reserve Bank of India (RBI) after PM Narendra Modi approved his appointment.
The veteran banker had begun his career as a probationary officer, and served for a short time at Union Bank of India, where he was executive director. In a rare move, he returned as the CMD of his parent bank (Bank of Baroda) and was seen as a surprise choice for the prestigous regulatory job. In fact, Mundra would have never been offered this post had it not been for K C Chakrabarty’s decision to resign before the end of his tenure as RBI deputy governor.
Currently, RBI has three deputy governors— H R Khan, Urijit Patel and R Gandhi.