RBI trims deputy guv Chakrabarty’s portfolio

The Reserve Bank of India has reshuffled the portfolios held by its four deputy governors, shifting a handful of responsibilities that were held by K.C. Chakrabarty to other deputies, according to a statement late on Tuesday.

The Reserve Bank of India has reshuffled the portfolios held by its four deputy governors, shifting a handful of responsibilities that were held by K.C. Chakrabarty to other deputies, according to a statement late on Tuesday.

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The announcement on the Reserve Bank of India’s website gave no reason for the changes, which cut the number of departments in Chakrabarty’s portfolio from eight to four.

“The change in the deputy governors’ portfolios is a routine matter. It is done on a need basis,” a central bank spokeswoman said on Wednesday.

Chakrabarty, who took up his three-year post in June 2009, is known to be outspoken on matters of monetary policy and his remarks have moved markets.

Responsibility for the departments of administration and personnel management, payment and settlement systems, human resources development, rural planning and credit, and urban banks and credit was shifted from Chakra-barty to other deputy governors.