Recently it has been reported that the deputy governor of apex bank- Reserve bank of India resigned from his work. Yesterday Mr. K.C. chakrabarty suddenly exited from his work. Mr. chakrabarty were supposed to retire in June 2014, But yesterday morning he ended up his term. MR. charkrabarty is a well experienced man. Prior to this he has worked with Indian bank and PNB bank He was appointed as RBI deputy governor in june 2009 for a period of three years and further his term was extended for 2 years.
It has been reported that the reasons for his exit are still not known. His sudden exit has created a hamper, since elections are approaching and it will be quite difficult to appoint new person at his place during these days. Since his retirement was planned in June RBI has scheduled a search committee, headed by RBI Governor Raghuram Rajan, to find his replacement. It will be taking some time to appoint someone new at his place since Chakrabarty's position is crucial as it is the one which has traditionally been filled in by a former PSU bank chief.