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RBI Dy Governor: Who will succeed Viral Acharya?

By Indian Mandarins- 06 Nov 2019
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The five-member Financial Sector Regulatory Appointment Search Committee (FSRASC) is all set to interview shortlisted candidates on November 07, 2019 to fill the vacancy that occurred following the resignation of the then Deputy RBI Governor Viral Acharya in July this year. FSRASC is headed by Cabinet Secretary and is co-chaired by RBI Governor besides DFS Secretary and two Independent Members being part of the committee.

Reportedly many senior IAS officers too have thrown their hat in the ring for the specialist’s job traditionally held by an economist. If insiders are to be believed, there is none from the RBI who may have fair prospects this time round. RBI Executive Director Christian Patra and two DGs of the RBI are among aspirants but none of them stand any chance. Reportedly, former Expenditure Secretary Ajay Narayan Jha, Corporate Affairs Secretary Injeti Sriniwas too are said to be in the reckoning among serious aspirants.

The RBI, headed by Governor, has four posts of Deputy Governor of which two are promoted from RBI’s own cadre whereas two are appointed from outside i.e. one is a commercial banker and the other an economist. The tenure of RBI Deputy Governor is for three years and the person remains eligible for reappointment.

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Indianmandarins.com, an initiative of New Media Network, is a multi-media initiative for the fast and real-time dissemination of news and information related to civil services, central PSUs and other institutions that play a critical role in governance, administration, corporate governance, and public life in India. We aspire to provide our esteemed readers with news breaks and situation analysis in the above-mentioned domain of operations. Currently, we are available at www.indianmandarins.com. We are now planning to branch off into print publication and few other related business initiatives.