After the Indian government revealed it was "reconstituting" the Reserve Bank of India's board of directors and selected the first seven new members last month, the latest new members have been announced.
It was initially thought that YH Malegam was retiring, but his reappointment was revealed to have taken effect on October 7, 2011. MV Rajeev Gowda was appointed as the other new director and assumed the role on Monday.
The two replace HP Ranina and Lakshmi Chand.
Malegam is a chartered accounta