Subir Gokarn to replace Rakesh Mohan as RBI deputy governor

Subir Gokarn, currently Asia Pacific chief economist of rating agency Standard and Poor's, will be appointed deputy governor of the Reserve Bank of India (RBI), finance minister Pranab Mukherjee said today.

Gokarn will replace Rakesh Mohan who quit as RBI deputy governor in June this year.

RBI traditionally maintains four deputy governors. Shyamala Gopinath, Usha Thorat and KC Chakrabarty are the other three deputy governors.

Speaking on the sidelines of a meeting with state finance secretaries, Mukerjee said the appointment "will be done in due course."

Before joining Standard and Poor's two years ago,

Gokarn was chief economist with S&P arm Crisil before joking S&P. He also had a long innings with economic think tank National Council of Applied Economic Research (NCAER).