The Reserve Bank of India seal on a gate exterior the RBI headquarters in Mumbai. File
| Photo Credit: Reuters
The Cabinet Secretary-headed panel is scheduled to interview shortlisted candidates on June 1 for the post of RBI Deputy Governor, which falls vacant on June 21 after M.Okay. Jain completes his prolonged tenure.
This emptiness for the RBI Deputy Governor’s post has been reserved for a industrial banker.
According to sources, five candidates have been shortlisted, together with a non-executive chairman of a public sector financial institution.
The Financial Sector Regulatory Appointment Search Committee (FSRASC) headed by Cabinet Secretary would interview candidates in Delhi, the sources mentioned.
The chosen identify from the interview will probably be despatched to the Appointments Committee of the Cabinet, headed by the Prime Minister, for remaining approval.
Besides the Cabinet Secretary, different members of FSRASC embody the RBI Governor, the Financial Services Secretary and two impartial members.
Also Read | Latest Reserve Bank of India information
According to the RBI Act, 1934, the central financial institution ought to have 4 Deputy Governors — two from inside the ranks, one industrial banker and an economist to head the financial coverage division.
Currently, the RBI has 4 Deputy Governors — M.Okay. Jain, Michael Debabrata Patra, M. Rajeshwar Rao and T. Rabi Sankar.
The Deputy Governor appointments are made for an preliminary interval of three years, and the individual is eligible for reappointment. The Deputy Governor will get a set wage of ₹2.25 lakh per thirty days plus allowances.
