Panel interviews 9 for RBI Deputy Governor’s post
The Cabinet Secretary-headed panel today interviewed three senior bureaucrats and six bankers for the post of RBI Deputy Governor which fell vacant in July last after S S Mundra retired on completion of his three-year term. Some of the bankers who appeared for the interview included IDBI Bank managing director M K Jain, UCO Bank executive director Charan Singh and SBI managing directors B Sriram and P K Gupta Besides, K P Krishnan, Secretary Skill Development and Entrepreneurship, Yaduvendra Mathur Additional Secretary NITI Aayog and T V Somanathan, Principal Secretary in Tamil Nadu also appeared for the interview before Financial Sector Regulatory Appointment Search Committee (FSRASC), sources said.
Selected name from the interview will be sent to Appointments Committee of the Cabinet headed by the Prime Minister for final approval, sources added. Besides Cabinet Secretary, other members of the panel included RBI Governor, Financial Services Secretary and two independent members. As per the RBI Act, the central bank should have four deputy governors – two from within the ranks and one commercial banker and another an economist to head the monetary policy department.
Although interviews were conducted on July 29 last year, the government decided to start the process all over again in January this year. According to a public notice published on the website of the finance ministry earlier this year, applicants should have at least 15 years of experience in banking and financial market operations. Besides, applicants should have extensive experience as a full-time director or board member and possess understanding at a very senior level, of supervision and compliance in the financial sector, it had said. The appointment will be made for a period of three years and the person will be eligible for reappointment, it had said. The deputy governor will draw a fixed salary of Rs 2.25 lakh per month plus allowances, it had said.
The Economy Times, New Delhi, 11th May 2018