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Vepa Kamesam,Muniappan new RBI deputy governors

BS Banking Bureau

Vepa Kamesam and G P Muniappan are taking over as deputy governors of Reserve Bank of India on Monday. They will replace Jagdish Capoor and S P Talwar, respectively, who stepped down on Saturday.

Both Kamesam and Muniappan will have a two-year term or till they attain the age of 62 years, whichever is earlier. Kamesam will look after exchange control, currency management, information technology, rural planning and credit, industrial and export credit, administration and personal management, human resource development and inspection department -- the portfolios handled by Capoor.

Muniappan will oversee department of banking operations and development, department of banking supervision, financial institutions division, department of non-banking supervision, department of financial companies, urban banks department, legal department and Deposit Insurance & Credit Guarantee Corporation.

The senior most deputy governor, Y V Reddy, who has been re-appointed with effect from September 1, will continue to look after department of economic analysis and policy, monetary policy, internal debt management, external investment and operations, department of government and bank accounts and expenditure and budgetary control.

Reddy will also handle inter-departmental co-ordination including the Joint Parliamentary Committee matters. Before taking up the new assignment Kamesam was managing director of State Bank of India in charge of the national banking group. Muniappan, a former executive director of RBI, was banking ombudsman at Thiruvananthapuram.

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