India names new deputy governor

Kamalesh Chandra Chakrabarty is the new deputy governor at the Reserve Bank of India.

Chakrabarty, whose appointment was announced on Monday, moves from the private sector to take the role. He replaces Rakesh Mohan, who left to join Stanford University on 10 June.

Chakrabarty was previously chairman and managing director of Indian Bank and Punjab National Bank, and chairman of the Indian Banks' Association.

Before that, he spent 26 years at the Bank of Baroda, where he worked on planning, man