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Gopalakrishna retires as ED, RBI

img_005G. Gopalakrishna, ED, Reserve Bank of India has voluntarily retired from the service two years ahead of the end of his tenure. He is has taken over as director of the Centre for Advanced Financial Research and Learning (CAFRAL) with effect from 21 April. Gopalakrishna’s decision comes after deputy governor K.C. Chakrabarty too has decided to leave the central bank, two months ahead of his retirement. Gopalakrishna was in the race for the post of deputy governor after Anand Sinha retired in January. He was the senior most among nine executive directors who appeared before the search panel. However, However, R. Gandhi was selected for the post. CAFRAL is an independent body funded by the RBI. A career central banker, he joined RBI in August 1980 and in a career spanning more than 33 years has worked in the areas of regulation and supervision of the banking sector, foreign exchange management, supervision of non-banking finance companies sector, payments systems, etc. He was appointed as Executive Director in October 2007, and looked after banking supervision, financial stability and communication. He also had a stint as the executive director of the Deposit Insurance & Credit Guarantee Corporation.

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