The Government has invited applications for the post of Deputy Governor in the Reserve Bank of India.
Going by the eligibility criteria listed out in the notification, which calls for people with work experience in public administration or with Indian/ international public financial institution to apply, it appears the government is looking to fill the vacancy that will be created in July 2017 when SS Mundra completes his three-year term as Deputy Governor.
Among the four Deputy Governors, two are from RBI. The third Deputy Governor is an Economist, who could either be an external or internal candidate, and the fourth Deputy Governor is usually a commercial banker. Persons with at least 25 years work experience in public administration, including experience at the level of Secretary or equivalent in the Government of India, will be eligible to apply.
Merit, track record
The other candidates who can apply are — those who have at least 25 years work experience in an Indian or international public financial institution or those of exceptional merit and track record at the national or international level in the relevant fields.
The term of appointment will be for a period of three years, with eligibility for re-appointment.
According to the notification, the Financial Sector Regulatory Appointments Search Committee can also make nominations of eligible and qualified candidates for the Deputy Governor’s post. This Committee can also recommend relaxation in the eligibility and qualifications/ experience criteria in respect of outstanding candidates.
Strong contender
The vacancy created by the elevation of Urjit Patel as Governor is also likely to be filled soon by the government. According to RBI insiders, MD Patra, Executive Director, is a strong contender for the position of Deputy Governor in the Economist category. (The Hindu Business)
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