Anand Sinha has superceded erstwhile deputy governor of Reserve Bank of India, Usha Thorat to hold the position from now. His appointment to the post of deputy governor was announced by the finance ministry on Tuesday.

Following his appointment, Sinha has been given an extension of two years leaving which he was to retire this February as executive director of RBI.

"I will take over the new charge on Wednesday," he said. With his appointment, a reshuffling of portfolios is expected amongst the four deputy governors.

Usha Thorat whose position Sinha has taken had to superannuate in November 2010 after she was denied an extension in her service tenor. Such extensions have however been given out to some of her predecessors.

Sinha will join the other three deputy governors namely Shyamala Gopinath, KC Chakrabarti and Subir Gokarn.