RESTRUCTURE OF RBI RESPONSIBILITY

rbi
Under the governance of Raghuram Rajan, RBI has decided to restructure itself by reassigning responsibilities of deputy governors under FOUR new clusters.
The four new clusters are:

1) FINANCIAL MARKETS AND INFRASTRUCTURE:

Headed by – H.R. Khan
Responsibility – External investment, govt accounts, payment & settlements, forex & internal debt management

2) REGULATION AND RISK MANAGEMENT:

Headed by – R.Gandhi
Responsibility – Banking regulation, deposit insurance, financial stability unit, Regulation of finance companies, currency management and risk monitoring
3) MONETARY POLICY AND RESEARCH:

Headed by – Urjit R Patel
Responsibility – Deptt of monetary policy, communication, economic and policy research, financial market operations

4) SUPERVISION AND INCLUSION:

Headed by – S.S. Mundra
Responsibility – Department of banking supervision, consumer education and protection, financial inclusion, HRD and supervision of cooperative banks