Punjab National Bank Chairman and Manging Director K C Chakrabarty is all set to take over as deputy governor of the Reserve Bank of India (RBI).

Chakrabarty would succeed V Leeladhar as the deputy governor in charge of banking in the top bank. Leeladhar was in charge of banking operations and supervision.

According to the sources, Chakrabarthy is supposed to assume office on Monday. However, no formal announcement has been declared so far.
Chakrabarty was made chairman of Punjab National Bank in June 2007 after heading the Chennai-based Indian Bank. Narayanasami retired on 30 June.

Earlier this week, he was also named as the Chairman for the Indian Banks’ Association (IBA) for the financial year 2009-10.

A gold medalist in MSc (Statistics), Chakrabarty joined Bank of Baroda (BoB) in 1978.

He held important positions in BoB.

He joined PNB as the executive director in 2004. Next year i.e. 2005 he took charge as the chairman and managing director of Indian Bank.

Later in 2007, he took over as the chairman and managing director of PNB in 2007.

The government had recently set up a selection committee to conduct an interview for the post of RBI deputy governor.

PNB chief Chakrabarty was always considered as the front-runer candidate for this post.

However, this is the first time that the government had set up a selection committee to appoint a deputy governor of the axis bank.