Categories: Business

8 candidates in the race for deputy governor post, interview on July 23

RBI
Image Source: PTI

new Delhi. There are eight candidates in the race for deputy governor of the Reserve Bank of India. The search committee, headed by the Cabinet Secretary, will interview these candidates on 23 July. This information has been received through sources. NS Vishwanathan, the most senior deputy governor of the central bank, quit his post on March 31 for health reasons, three months before his extended tenure. He was associated with the Reserve Bank for nearly 39 years. Sources said that the Financial Sector Regulatory Appointment Search Committee has shortlisted the names of eight candidates for the post. All these people will be interviewed through video conferencing on 23 July. Sources said that after the interview, the name of the selected candidate will be sent to the Appointments Committee of the Prime Minister-led Cabinet for final approval.

The FSRASC consists of the Reserve Bank Governor, the Financial Services Secretary and two independent members, in addition to the Cabinet Secretary. According to the Reserve Bank Act, the central bank has four deputy governors. Two of these are from within the central bank, a commercial banker and an economist who heads the monetary policy department. Currently, the three deputy governors of the Reserve Bank are BP Kanungo, MK Jain and Michael Devvrat Patra. Earlier this year, the government extended the tenure of Kanungo for one year on April 3, 2020. The deputy governor is initially appointed for three years. He can also be reappointed. The deputy governor gets a fixed monthly salary and allowance of Rs 2.25 lakh.

This post was published on July 12, 2020 3:45 pm

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