The government on Monday approved the appointment of B P Mishra as the new executive director of International Monetary Fund.

Mishra, a 1969 batch IAS officer, replaces Y V Reddy at the Bretton Woods institution.

The Appointments Committee of the Cabinet has cleared the name of Mishra, who is at present additional secretary in the department of economic affairs, ministry of finance, an official release said in New Delhi on Monday.

Yaga Venugopal Reddy on Saturday took over as the 21st governor of the Reserve Bank of India.