He is currently one of the four Deputy governors at the RBI. First appointed on 11 January 2013 as a deputy governor to replace Subir Gokarn, he was reappointed in January 2016 for another three years. Before his appointment as Deputy Governor of RBI in 2013, he was an advisor on energy and infrastructure at The Boston Consulting Group.
He has run the central bank's monetary policy department since 2013 and has worked closely with the Raghuram Rajan during his stint at the central bank.
He is going to replace the current governor Raghuram Rajan. He will take over from Rajan on 4th September 2016.