The Financial Sector Regulatory Appointments Search Committee (FSRASC), headed by Cabinet Secretary, met on December 18 to discuss the selection of a successor to RBI deputy director SS Mundra who demitted the office on 31 July this year on the completion of his three-year tenure. Ideally, the successor to Mundra should have been in office by now but the selection interview conducted on 29 July failed and the Government decided to go through the process once again.
According to a notification issued, bankers from both public and private sector banks would be called for interaction by the high-level panel which is made up of RBI Governor, Financial Services Secretary, and three independent members including Manoj Panda, director, Institute of Economic Growth, and Bimal Patel, director, CEPT.
The applicants are required to have an 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 and communicating high-level output and strong and clear communication skills on matters of public policy, are also listed as criteria for the post, the notice said.
It may be mentioned that RBI has four deputy governors - two from within the ranks and one commercial banker and another an economist, to head the monetary policy department.
The appointment will be made for a period of three years and the person will be eligible for re-appointment. The deputy governor will draw a fixed salary of Rs 2.25 lakh per month plus allowances.
Govt starts afresh to pick Mundra's successor in RBI
By IndianMandarins - 2017-12-21 11:26:50
The Financial Sector Regulatory Appointments Search Committee (FSRASC), headed by Cabinet Secretary, met on December 18 to discuss the selection of a successor to RBI deputy director SS Mundra who demitted the office on 31 July this year on the completion of his three-year tenure. Ideally, the successor to Mundra should have been in office by now but the selection interview conducted on 29 July failed and the Government decided to go through the process once again.
According to a notification issued, bankers from both public and private sector banks would be called for interaction by the high-level panel which is made up of RBI Governor, Financial Services Secretary, and three independent members including Manoj Panda, director, Institute of Economic Growth, and Bimal Patel, director, CEPT.
The applicants are required to have an 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 and communicating high-level output and strong and clear communication skills on matters of public policy, are also listed as criteria for the post, the notice said.
It may be mentioned that RBI has four deputy governors - two from within the ranks and one commercial banker and another an economist, to head the monetary policy department.
The appointment will be made for a period of three years and the person will be eligible for re-appointment. The deputy governor will draw a fixed salary of Rs 2.25 lakh per month plus allowances.
