RBI deputy governor BP Kanungo retires

BP Kanungo has stepped down from the post of deputy governor of RBI after his term ended on April 2, 2021 cutting short all expectations of an extension of his tenure. As deputy governor, he was in charge of the department of payment and settlement, currency management, foreign exchange among others.

Kanungo’s retirement comes at a time when the government is planning to introduce the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 in Parliament. RBI is also coming out with several regulations around fintech and payment.

BP Kanungo, a career central banker, joined RBI in September 1982. He worked in several functional areas of the banks such as foreign exchange management, banking & non-banking supervision, currency management, government and bank accounts and public debt.