The Union Government has appointed NS Vishwanathan as deputy governor of the Reserve Bank of India (RBI). His appointment was approved by the Appointments Committee of the Cabinet (ACC) presided by Prime Minister Narendra Modi in New Delhi. NS Vishwanathan will shall have term will be for three years and will succeed Harun R Khan, who will superannuates on July 7, 2016 on turning 62.

The RBI has four deputy governors – two from within the ranks and one commercial banker and an economist to head the monetary policy department. Previously they were appointed by a panel headed by RBI Governor. But now they are appointed based on recommendations of the Financial Sector Regulatory Appointment Search Committee (FSRASC) headed by Cabinet Secretary that also includes RBI Governor. Present Deputy Governors of RBI are the other being R Gandhi, S S Mundra) and Urjit Patel (an economist).