Former Reserve Bank of India (RBI) deputy governor Subir Gokarn has been appointed as an executive director on the board of International Monetary Fund (IMF). Gokarn, 56, will replace Rakesh Mohan, whose three-year tenure at IMF will end on November 2015. Gokarn will represent India, Bangladesh, Sri Lanka and Bhutan on the Washington-based IMF’s Executive Board, which is responsible for conducting the day-to-day business of the multilateral institution.

The name of 56-year-old economist was cleared by Appointments Committee of Cabinet headed by Prime Minister Narendra Modi, as per an order issued by the Department of Personnel and Training. Mohan was appointed Deputy Governor of RBI in 2009 for a term of three years and had a distinction of being the youngest Deputy Governors of the central bank at that time.

The US, Japan, Germany, France and UK are among the major countries with individual representatives, while the highest vote is for the US at 16.74 per cent. Other countries with individual representatives on the Board include China, Russia and Saudi Arabia.

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