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Adhia's appointment to two posts is well-received

By IndianMandarins- 10 Mar 2019
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Adhia's appointment to two posts signifies that even though he missed the bus to become Cabinet Secretary last year he still remains among few favourites of PM Modi.  


Three months after his retirement as Finance Secretary, Hasmukh Adhia (IAS:1981:GJ) was on 01 March 2019 appointed the Non-executive Chairman of Bank of Baroda for three years. Further, on 09 March 2019, the President of India appointed Adhia the Chancellor of Gujarat Central University for five years. 

 

This has triggered a question whether Adhia may be able to discharge both of his official responsibilities or he may be constrained to drop one of them.

 

One can hold both positions as here is no conflict of interest. Chancellor is not a full-time assignment. Even if it is, nothing stops him from holding another part-time Board position in another organisation. Executive Chairman is an honorary position with no remuneration and perks attached with the post. Many Professors of IIM/IITs are on Boards of many Banks and companies. G C Chaturvedi (Chairman ICICI) is on the Board of IL&FS constituted by Govt.

 

The reason is that as the non-executive chairman of Vadodara-headquartered BoB, he may be paid a RBI-fixed sum as remuneration for attending each board and committee meetings - and not a regular salary on a monthly basis. However, as the VC of Gujarat central university, he may be entitled to a regular monthly salary.

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