A recent press report said that Shri P. Vijaya Bhaskar assumed charge as Executive Director of the Reserve Bank of India earlier this month. As Executive Director, Shri Bhaskar will look after Central Security Cell, Department of Banking Supervision and Department of Non-Banking Supervision.
Shri. Bhaskar was the Regional Director of Karnataka, prior to his appointment as Executive Director. He holds a Masters Degree in Commerce, Post Graduate Diploma in Business Management, Pragya and CAIIB.
Reports also said that Shri B. Mahapatra has been appointed as the Executive Director of the Reserve Bank of India. As Executive Director, Shri Mahapatra will be in charge of Department of Banking Operations and Development, Department of Government and Bank Accounts, Inspection Department and Legal Department.
Shri. Mahapatra was Chief General Manager-in-Charge of Department of Banking Operations and Development, prior to his appointment as Executive Director. He holds a Masters Degree in English, an M.B.A. (Finance), M.S.M. (Finance), Pragya and CAIIB.
Reserve Bank of India is set to tighten interest rates through the major part of this fiscal. This is to keep inflation rate above its comfort level, and affecting growth. This has made loans such as personal loan, agricultural loan and other loans dearer.