<p>Former Deputy Governor of Reserve Bank K C Chakrabarty passed away following a heart attack on Friday. He was 68.</p>.<p>Chakrabarty, a commercial banker-turned-central banker, died at his home in suburban Chembur, banking industry sources said.</p>.<p>After his stint at state-run lenders like Bank of Baroda, Indian Bank and Punjab National Bank, the outspoken Chakrabarty had joined the RBI as a DG in 2009 and resigned in 2014, three months before his term ended.</p>.<p>Before banking, Chakrabarty had taught at the Banaras Hindu University before entering commercial banking.</p>.<p>At RBI, he handled a variety of departments including banking regulation and supervision as the DG.</p>.<p>Following reports of an "RBI official" putting question marks over policy efficacy in tackling inflation, he was stripped of many responsibilities by the then Governor D Subbarao, and was left with only the Rajbhasha Department. Subsequently, his responsibilities were restored.</p>.<p>At RBI, he had a reputation for sharp wit, humour and quick retorts. He frequently critiqued his former commercial banking colleagues for blaming rise in dud loans as 'system-generated NPAs', insisted on financial inclusion targets and had a very public spat with former SBI chairman Pratip Chaudhuri over interest on cash reserve ratio (CRR).</p>.<p>After his resignation, he had shifted base to London, where he was posted earlier in his career while working for Bank of Baroda.</p>.<p>In 2018, his name cropped up as a suspect in two cases investigated by the Central Bureau of Investigation (CBI), including one related to the Vijay Mallya-owned Kingfisher Airlines. He was also prevented from flying out to London because of a lookout circular against him.</p>
<p>Former Deputy Governor of Reserve Bank K C Chakrabarty passed away following a heart attack on Friday. He was 68.</p>.<p>Chakrabarty, a commercial banker-turned-central banker, died at his home in suburban Chembur, banking industry sources said.</p>.<p>After his stint at state-run lenders like Bank of Baroda, Indian Bank and Punjab National Bank, the outspoken Chakrabarty had joined the RBI as a DG in 2009 and resigned in 2014, three months before his term ended.</p>.<p>Before banking, Chakrabarty had taught at the Banaras Hindu University before entering commercial banking.</p>.<p>At RBI, he handled a variety of departments including banking regulation and supervision as the DG.</p>.<p>Following reports of an "RBI official" putting question marks over policy efficacy in tackling inflation, he was stripped of many responsibilities by the then Governor D Subbarao, and was left with only the Rajbhasha Department. Subsequently, his responsibilities were restored.</p>.<p>At RBI, he had a reputation for sharp wit, humour and quick retorts. He frequently critiqued his former commercial banking colleagues for blaming rise in dud loans as 'system-generated NPAs', insisted on financial inclusion targets and had a very public spat with former SBI chairman Pratip Chaudhuri over interest on cash reserve ratio (CRR).</p>.<p>After his resignation, he had shifted base to London, where he was posted earlier in his career while working for Bank of Baroda.</p>.<p>In 2018, his name cropped up as a suspect in two cases investigated by the Central Bureau of Investigation (CBI), including one related to the Vijay Mallya-owned Kingfisher Airlines. He was also prevented from flying out to London because of a lookout circular against him.</p>