RBI names BP Kanungo to run monetary policy after Viral Acharya quits

The Reserve Bank of India (RBI) said on Tuesday it had assigned deputy governor B.P. Kanungo to run the monetary policy portfolio after the resignation of fellow deputy governor Viral Acharya.

Kanungo, who will retain his currency management portfolio, would become the sixth member of the RBI's Monetary Policy Committee, which will next convene on August 5-7.

Acharya, who is also a professor at New York University's Stern School of Business, left the RBI six months before the scheduled end of his term, citing personal reasons for his departure.