Reserve Bank of India Executive Director G Gopalakrishna has voluntarily retired from the service and joined as director of Centre for Advanced Financial Research and Learning (CAFRAL), a not-for-profit organisation.
Gopalakrishna took voluntary retirement on April 20 to take over charge as director of CAFRAL, an independent body fully funded by the Reserve Bank of India on April 21, the apex bank said in a statement on Monday.
His name was in the reckoning for Deputy Governor in place of Anand Sinha who retired in January.
He was the senior most among nine Eexcutive Directors who appeared before the search panel headed by the Reserve Bank Governor Raghuram Rajan.
However, R Gandhi was selected for the post of Deputy Governor earlier this month.
A career central banker, Gopalakrishna joined the Reserve Bank in August 1980 and in a distinguished career spanning more than 33 years has worked in the areas of regulation and supervision of the banking sector, foreign exchange management, supervision of non-banking finance companies sector, payments systems, etc.
He was appointed as Executive Director on October 26, 2007, and looked after banking supervision, financial stability and communication before seeking retirement from the Reserve Bank of India.
Gopalakrishna also had a stint as the Executive Director of the Deposit Insurance & Credit Guarantee Corporation.