The Executive Director of Reserve Bank of India, NS Vishwanathan, will be made deputy governor of the central bank, reported ANI. The Appointments Committee of the Cabinet cleared his appointment on Tuesday. Vishwanathan will succeed HR Khan, whose tenure ends on July 3.

The Cabinet has not yet decided on who will succeed RBI Governor Raghuram Rajan, who recently announced that he will not take a second term after his tenure ends on September 4. Reports on Monday said that four people have been shortlisted for the post.