Currently, the RBI has four Deputy Governors, two of them are internal appointees. The third DG is typically a career public sector banker while the fourth is an economist who will handle the monetary policy.
B.P. Kanungo, a long-serving official with India's central bank, took over as a deputy governor of the Reserve Bank of India on Monday for a three-year term, overseeing a portfolio including currency management, debt management, and payment and settlements.
This is in line with the government’s plan to quickly charter out a resolution mechanism to resolve and recover the mounting bad loans in the banking sector, especially public sector banks.
BP Kanungo was on Friday appointed Deputy Governor in Reserve Bank of India (RBI) for three years.
SBI already has a Rs 200-crore fund to empower startups in this space. Last year, the public sector bank had also opened a startup branch, InCube, in Bengaluru.
The Reserve Bank of India is unsure of a bad bank success to resolve bad loans but is open to setting it up to experiment all solutions.
RBI today informed a parliamentary panel that it is working on a mechanism to bring down transaction cost on online payments post demonetisation even as cash flow position in urban as well as rural areas have improved significantly.
RBI's newly appointed Deputy Governor Viral Acharya, a noted economist, today said he will give his best in the new role.
Viral V Acharya will assume charge as Deputy Governor of the Reserve Bank of India on January 20, 2017.
Vishwanathan, talking to reporters on the sidelines of a banking event, also said the incremental addition of stressed assets in banks was coming down.
Consultancy firm KPMG today appointed former Reserve Bank deputy governor H R Khan as its senior adviser in the country.
The Reserve Bank has currently three Deputy Governors as against the requirement of four.
The total credit dispensed by the non-bank entities has increased to 37.40 percent in these two years, which is twice the pace of the 19.22 percent growth reported by banks, he said.
The Deputy Governor handling monetary policy department is also likely to be nominated to the new rate setting panel MPC (Monetary Policy Committee). The panel will also have three members to be appointed by the government, besides RBI Governor and one more person from the central bank.
52-year-old Patel, who was today appointed RBI Governor for a tenure of three years and would take charge after Rajan demits office on September 4, was with IMF between 1990 and 1995, during which he worked on the US, India, Bahamas and Myanmar desks.
"If you make yourself socially relevant, not just relevant in an economic sense alone, you can have hopes to exist," Gandhi said at the annual banking summit FIBAC here.
"There is one area in customer service where we're getting deeply concerned. This is around mis-selling, particularly of third-party (insurance) products. Everyday, we keep on hearing numerous instances where such practices are going on," Mundra said at the annual Fibac bankers' summit here.
In September last year, the RBI had given in-principle approval to 10 entities for setting up small finance banks.
Vishwanathan, currently Executive Director at the central bank, was chosen by a search committee headed by Cabinet Secretary. This is the first appointment done through this high-level panel.
N S Vishwanathan is set to become new deputy governor of the Reserve Bank, replacing of H R Khan whose term will end next week
"RBI is already examining whether to issue regulatory direction with regard to limiting the liability of customers on fraudulent transactions arising out of frauds and electronic banking transactions," Mundra said at an event organised by the Banking Codes and Standards Board of India (BCSBI) here.
"There is a holistic view this time, there is a rate cut, there is liquidity framework, and Marginal Cost of Funds based Lending Rate (MCLR) has also become operational from April 1.
"One thing has come out quite clearly, that the issues that we are seeing today have not much to do with the ownership of the banks. It is more a governance issue than an ownership issue," S S Mudra said at a banking conference organised by industry lobby CII here.
Deputy Governor Mundra tells CNBC-TV18's Ritu Singh that a shift from an incurred loss to an expected loss means that provisioning will have to rise.
According to sources, the government-appointed search committee will meet on December 8 in New Delhi. RBI has four deputy governors -- two filled from the rank and the other two hired from outside.