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Government to invite fresh applications for RBI deputy governor post

Press Trust of India/New Delhi 01 Feb 18 | 12:52 AM

A woman walks past the Reserve Bank of India (RBI) head office in Mumbai | Photo: Reuters

The government will soon invite fresh applications for the post of RBI Deputy Governor, a position that fell vacant after S S Mundra retired on completion of his three-year term on July 31, 2017.

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Although interviews were conducted on July 29 last year, the government has decided to start the process all over again, sources said without giving reasons.

Advertisements seeking application from eligible bankers would be issued soon, they added.

The Financial Sector Regulatory Appointment Search Committee (FSRASC) headed by the Cabinet Secretary will select a suitable candidate to succeed Mundra.

The central bank has four deputy governors -- two from within the ranks, one commercial banker and one economist -- to head the monetary policy department.

The members of the search committee include the RBI Governor, Financial Services Secretary and three independent members.

According to the earlier notice put up on RBIs website, 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.

Strong competencies working with financial performance data, including interpreting, summarising, high level output and strong and clear communication skills on matters of public policy, are also listed as criteria for the post.

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 225,000  per month plus allowances, it added.

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