Govt appoints four members to local boards of RBI

Rakesh Jain and Sachin Chaturvedi are among four people appointed members in local boards of the Reserve Bank of India (RBI), according to an official order issued Wednesday.

Jain and Chaturvedi have been appointed as member in Southern local board and Eastern local board of the central bank, it said.

Revathy Iyer and Raghvendra Narayan Dubey have been appointed as member in Northern local board of the central bank, the order issued by the Personnel Ministry said without mentioning any details of these persons.

Iyer and Chaturvedi have also been nominated as Director on the central board of the RBI.

The RBI's affairs are governed by the central board of directors.

The board is appointed by the government.

There are five official directors -- the RBI Governor and not more than four deputy governors.

Besides, the government nominates 16 non-official directors to the board.

Ten are nominated from different fields, two are government officials and one director each from the four local boards.