Dr. K.C. Chakrabarty, a seasoned and accomplished banker with over three decades of experience in commercial banking, donned the role of a Central Banker on June 15, 2009 by assuming charge of the office of Deputy Governor in Reserve Bank of India. Before taking up the current responsibilities, Dr. Chakrabarty was the Chairman and Managing Director of Punjab National Bank and Indian Bank for two years each. He was also the Chairman of the Indian Banks’ Association (IBA) for a brief period.
Dr. Chakrabarty has outstanding academic credentials. He secured the second rank in his Bachelor’s Degree in Science, first rank in M.Sc. Statistics and holds a Doctorate in Statistics from Benaras Hindu University. He started his career as a teacher and researcher at the Benaras Hindu University and went on to have a long and distinguished career of 26 years at the Bank of Baroda. Dr. Chakrabarty handled diverse portfolios like banking operations and administration, planning, economic research, investment banking, integrated treasury operations, risk management and corporate accounts, international banking, global syndication, etc. He was the Chief Executive looking after United Kingdom operations of the Bank of Baroda for three years before being elevated as Executive Director of Punjab National Bank in August 2004. Subsequently, Dr. Chakrabarty assumed the Office of CMD of Indian Bank in June 2005 and Punjab National Bank in June 2007 and led from the front to bring a turnaround in both the banks.
Dr. Chakrabarty’s current assignments at Reserve Bank of India include guiding and overseeing the areas pertaining to Supervision of Banks, Currency Management, Financial Stability, Customer Service, Rural Credit and Human Resource Management. He is the Bank’s nominee on the Financial Stability Board. Dr. Chakrabarty is also Chairman of the Bharatiya Reserve Bank Note Mudran Pvt. Ltd. (BRBNMPL) and Chairman of the Advisory Committee of College of Agricultural Banking (CAB).
Dr. Chakrabarty was closely connected with various institutes/organisations like National Housing Bank, Oriental Insurance Co. Ltd., Confederation of Indian Industry (CII), Central Depository Services Ltd. (CDSL), Exim Bank, National Institute of Bank Management (NIBM), Agricultural Finance Corporation Ltd., Indian Institute of Banking & Finance, General Insurance Corporation of India, etc.
He has been associated with many Committees/Working Groups, notably as
- Chairman of IBA’s Sub-Committee on Agro-business and Financial Inclusion;
- Chairman of CII’s National Committee on Banking;
- Chairman of the Working Group on Rehabilitation of Sick SMEs
- Chairman of the High Level Steering Committee for Review of Supervisory Processes for Commercial Banks
- Chairman of High Level Committee constituted to look into the matter of growing demand for Coins
- Member of the RBI’s High Level Committee to review the Lead Bank Scheme and improve its effectiveness.
- Member of the Sub Committee of the Central Board of Directors of RBI to study the issues and concerns in the microfinance sector.
Dr. Chakrabarty is also the chairman of a High level Financial Inclusion Advisory Committee (FIAC) set up recently to spearhead the efforts towards greater financial inclusion.
Dr. Chakrabarty was a regular visiting faculty in various training institutions in India and has delivered talks on a wide range of topics like Risk Management, Asset-Liability Management, Credit Plans, Lead Bank Scheme, Profit Planning, Cost Control, etc.
Dr. Chakrabarty is proficient in English, Hindi, Bengali and Gujarati languages.
Dr. K. C. Chakrabarty takes charge as Deputy Governor