Reserve Bank of India Deputy Governor N S Vishwanathan quits

www.mangaloretoday.com

New Delhi, Mar 05 2020: Reserve Bank of India (RBI) Deputy Governor N S Vishwanathan, an ardent supporter of former Governor Urjit Patel, has quit three months ahead of his superannuation, on health grounds.

His 29 years of service in the central bank comes to an end on March 31. Vishwanathan, who looked after the banking regulations, cooperative banks and financial stability, and inspection in the central bank, was given a one-year extension in June last year

Sources close to the deputy governor said that he has taken the decision as doctors have advised him rest after he suffered stress-related illness.

He was appointed deputy governor in June 2016, replacing H R Khan. He was re-appointed in June last year for one more year.

Prior to that, he was the principal chief general manager in the department of non-banking supervision at RBI.

Vishwanathan’s resignation is the third high profile exit from the central bank in the last 15 months and comes almost nine months after deputy governor Viral Acharya put in his papers citing personal reasons.

Vishwanathan, who has done his Master of Economics from Bangalore University, was one the key supporters of Patel, who took everyone by surprise when he quit in 2018.

Vishwanathan became one of the probables to hold the charge immediately after Patel resigned.

Sources close to the deputy governor have asked not to read too much into the move as his resignation has come only due to health reasons.

Vishwanathan, a seasoned banker, was a supporter of stringent corporate governance norms.