B P Kanungo assigned to run monetary policy portfolio

The Reserve Bank of India (RBI) has assigned deputy governor B.P. Kanungo to run the monetary policy portfolio after the resignation of fellow deputy governor Viral Acharya. Kanungo would become the 6th member of the RBI’s Monetary Policy Committee, which will next convene on 5-7 August. He will also retain his currency management portfolio. Now, all the other three deputy governors — N S Vishwanathan, B P Kanungo and M K Jain — have been made responsible for 12 departments each.