In the context of Indian banking and the Reserve Bank of India (RBI), who was appointed as the new Deputy Governor in March 2017, taking over the post from R. Gandhi?

Introduction / Context:
Questions about the leadership of the Reserve Bank of India (RBI) are common in general awareness sections of competitive exams, because the central bank plays a crucial role in monetary policy and financial regulation. In March 2017, an important personnel change took place when a new Deputy Governor was appointed to replace R. Gandhi at the RBI. Knowing the names and roles of such key officials helps aspirants stay updated with the governance of the Indian financial system.

Given Data / Assumptions:

• The question refers to the Reserve Bank of India, the central bank of the country.
• R. Gandhi was serving as a Deputy Governor of RBI before his term ended.
• A new Deputy Governor was appointed in March 2017 to fill the vacancy.
• The options list several well known banking officials and former Deputy Governors.

Concept / Approach:
This is a current affairs and factual recall question. The task is to remember which official was appointed as Deputy Governor of RBI in March 2017 in place of R. Gandhi. Many of the names in the options have also served as Deputy Governors at different times, so we must pay attention to the specific date and succession mentioned in the question rather than only recognising familiar names.

Step-by-Step Solution:
Step 1: Identify that the question is talking about the post of Deputy Governor of the Reserve Bank of India, not about the Governor or other positions.Step 2: Recall that R. Gandhi completed his term as Deputy Governor in 2017, creating a vacancy at the central bank.Step 3: From current affairs records of March 2017, note that B. P. Kanungo was appointed as the new Deputy Governor of RBI.Step 4: Check the options and confirm that B. P. Kanungo appears exactly as one of the choices.Step 5: Select B. P. Kanungo as the correct answer, because he directly succeeded R. Gandhi in that month and year.

Verification / Alternative check:
An alternative way to verify this answer is to recall news coverage around that period which discussed the appointment of three Deputy Governors supporting the RBI Governor. Among them, B. P. Kanungo was mentioned specifically as the successor to R. Gandhi. You can also remember that Harun R. Khan and S. S. Mundra had already served earlier and were associated with other tenures, which does not match the March 2017 transition specified in the question.

Why Other Options Are Wrong:
Option A (R. Gandhi) is incorrect because he is the outgoing Deputy Governor mentioned in the question, not the person appointed in his place. Option C (Harun R. Khan) is incorrect because although he served as a Deputy Governor of RBI, his tenure ended earlier and he did not succeed R. Gandhi in March 2017. Option D (S. S. Mundra) is also incorrect because he was another Deputy Governor serving in a different period and was not the replacement for R. Gandhi in that particular appointment round.

Common Pitfalls:
A common mistake is to select any name that you recognise as a Deputy Governor without matching the time frame or succession pattern clearly mentioned in the question. Another pitfall is confusing the roles of Governor and Deputy Governor, or mixing up earlier appointees with later ones. Candidates may also misread the phrase “in place of R. Gandhi” and mistakenly think that R. Gandhi is the answer, even though he is the outgoing official. Careful reading and memory of the correct sequence of appointments avoids these errors.

Final Answer:
The correct answer is B. P. Kanungo, who was appointed as the new Deputy Governor of the Reserve Bank of India in March 2017, succeeding R. Gandhi.