Mumbai, June 11: Reserve Bank of India executive director K L Khetrapaul has resigned after K J Udeshi superceded him as deputy governor. Udeshi, the first woman to hold the position, took charge as RBI deputy governor yesterday following her appointment by the government, filling the slot after G P Muniappan retired on May 31.
RBI spokesperson said, "Khetrapaul submitted his resignation yesterday." Banking sources said Khetrapaul resigned after he was superceded by Udeshi.
This is the first time that a senior executive director had been superceded in the Apex Bank for the post of deputy governor. Khetrapaul and Udeshi had joined RBI in 1965. While the former was to retire in august, 2003 Udeshi was slated to retire in October 2003.
As per government notification, Udeshi would hold charge till October 12, 2005 when she attains the age of 62 or until further orders. Bureau Report