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Ghate, Patra among candidates for RBI dy guv post
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SME Times News Bureau | 09 Nov, 2019
The Financial Sector Regulatory Appointment Search Committee (FSRASC) is
understood to have interviewed 10 candidates including RBI's Executive
Director Michael Patra and external MPC member Chetan Ghate among 3
other economists, two IAS officers for RBI's deputy governor's post.
Chetan Ghate is an external member of RBI's Monetary Policy Committee.
Micheal
Debabrata Patra is current Executive Director at RBI. IAS officer
Kshatrapati Shivaji is also said to be in the list for the position of
Reserve Bank of India's deputy governor. He has been the CEO of SIDBI
and principal secretary in the Ministry of Finance and is currently
India's executive director at ADB (Asian Development Bank).
Arunish
Chawla, a bureaucrat currently in Washington at Indian Embassy economic
wing and Manoj Govil, the principal finance secretary of Madhya Pradesh
have possibly been interviewed for the post.
However, there was no official communications on the interviews conducted on November 7 for the post.
The
search panel FSRASC is headed by Cabinet Secretary and also includes
RBI Governor, Financial Services Secretary including independent
members.
Having previously worked as the CEO of SIDBI and
principal secretary in the Ministry of Finance, Shivaji has been serving
as an executive director of the ADB since December 2016.
The
post, which has traditionally gone to an economist outside the central
bank, had fallen vacant after the resignation of Viral Acharya. Prior to
Acharya, it was held by Urjit Patel, who was later elevated to the post
of governor. Acharya's last working day at the central bank was July
23.
The successful candidate would be the only deputy governor
out of four at the Reserve Bank of India (RBI) who will be part of the
the six-member Monetary Policy Committee. Acharya's successor would also
head the RBI's monetary policy and research departments.
In
August, the government had invited applications to fill the Deputy
Governor's post. The Advertisement said the applicant should have at
least 25 years of work experience in public administration, including at
the level of secretary or equivalent in the central government.
Candidates in an Indian or international public financial institution
could also apply. The appointment was for three years and the person was
eligible for reappointment.
FSRASC is responsible for selecting
the eligible candidate. The central bank has four Deputy Governors of
which two are appointed from outside, one a commercial banker and the
other, an economist. The remaining two are promoted from within the RBI.
After
Viral Acharya resigned suddenly, B.P. Kanungo, a Deputy Governor of the
RBI, was given the charge of the monetary policy department and was
inducted into the six-member monetary policy committee. And there at
least two monetary policy reviews after Acharya had quit, one in August
and another in October with the next review is slated for early
December.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
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64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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