Government invites applications for the post of Deputy Governor of RBI
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According to a public notification, the applicant should have at least 15 years of experience in banking and financial market operations. This indicates that candidates from the private sector will also be considered. Traditionally, one in four deputy governors is from the public sector banking industry.
Ministry of Finance has invited applications for the post of Deputy Governor of Reserve Bank of India (RBI). The new deputy governor will replace MK Jain, whose extended term ends in June. According to a public notification, the applicant should have at least 15 years of experience in banking and financial market operations. This indicates that candidates from the private sector will also be considered. Traditionally, one in four deputy governors is from the public sector banking industry.
If the government chooses someone from the private sector, it will be the first time in the history of RBI. Jain, a senior public sector bank official, was elected as the Deputy Governor in 2018 initially for three years and his term was extended for two more years in 2021. The central bank has four deputy governors, two by rank, a commercial bank official and an economist who heads the monetary policy department.
The notification said, “The Financial Sector Regulatory Appointments Search Committee (FSRASC) is also free to identify and recommend any other person who has not applied for the post on the basis of merit. The committee may also recommend relaxation of eligibility and qualification/experience criteria in respect of outstanding candidates.”
As per the notice, the applicants should have extensive experience as a whole-time director or board member and should have an understanding of supervision and compliance in the financial sector at a very senior level. As per the notification, the last date for application is April 10. The age of the applicant should not be more than 60 years as on June 22, 2023. The appointment will be for three years. On appointment to this post, the salary will be Rs 2.25 lakh (Level-17) per month.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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