Dy Governor R Gandhi to look after RBI's monetary policy department

The Reserve Bank of India (RBI) said on Tuesday it will reallocate the portfolios for its three deputy governors, including shifting the monetary policy, economic policy and research, and financial market operations to R Gandhi.

The three divisions were previously held by Urjit Patel, a deputy governor who was promoted to RBI chief on Sunday to replace Raghuram Rajan.

Other divisions under Patel were also reassigned, with the department of communication assigned to Deputy Governor N S Vishwanathan, and the department of statistics and information management going to S S Mundra.

The government is expected to announce a replacement for Patel as a deputy governor soon, which would likely lead to another rejigging of portfolios.