RBI deputy governor BP Kanungo retires

The senior-most deputy governor BP Kanungo retired from the Reserve Bank on completion of his one-year extension on 2nd April 2021.. Kanungo joined the RBI in 1982 and was in charge of currency management, external investments, operations, payment, and settlement system, among others, during the four-year term as the deputy governor, which began in April 2017. The government had appointed him as a deputy governor in March 2017 when Urjit Patel was the governor and he took charge on April 3, 2017, for a three-year term ending April 2, 2020, but was given a one-year extension. 

Before being elevated as an executive director, he also served as the head of regional offices of the Reserve Bank in Jaipur and Kolkata, besides holding the position of the banking ombudsman for Madhya Pradesh and Chhattisgarh. With his retirement, the RBI is left with three deputy governors — Mahesh Kumar Jain, Michael Patra and Rajeshwar Rao, who was recently appointed.