<h1>New Reserve Bank of India deputy governor appointed for three-year term starting Oct 9 under RBI Act, 1934</h1> The government has appointed a new deputy governor of the Reserve Bank of India for a three-year term commencing on or after October 9, replacing the incumbent whose extended tenure ends October 8 after five years in office. The appointment was approved by the Appointments Committee of the Cabinet. The appointee, currently an RBI executive director overseeing the Department of Supervision, will join three other deputy governors already on the central bank's board. Under the RBI Act, 1934, the bank's complement of four deputy governors typically includes internal promotions, a commercial banking representative and an economist for monetary policy.