RBI drastically cuts deputy governor Chakrabarty’s role


The Reserve Bank of India (RBI) on Wednesday stripped Kamalesh Chakrabarty, a deputy governor, of more than half his key portfolios in a step thought to have been triggered by Chakrabarty's failure to stick to the central bank's line on monetary policy.

Chakrabarty, who joined the central bank last June from Punjab National Bank, a state-owned lender, has been divested of responsibility for payment and settlement systems, urban banks, rural planning and credit, administration and personnel manag

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