Govt likely to conduct interviews for RBI deputy governor next week

Government panel consisting of RBI governor, Cabinet secy, DFS secy to interview candidates

A top government panel, comprising Reserve Bank of India (RBI) Governor Sanjay Malhotra, Cabinet Secretary TV Somanathan, and Department of Financial Services Secretary M. Nagaraju, is likely to meet next week to interview top contenders for the post of deputy governor at the RBI, said a source.

 

“As the tenure for one RBI deputy governor is ending, we expect the interviews to take place by mid next week,” said the source.

 

The government has been looking for a new deputy governor, as Michael Patra's term is set to end on January 15.

 

The last date of submission of applications was November 30, 2024.

 

According to the advertisement, candidates should have at least 25 years of work experience in public administration, including experience at the level of secretary or equivalent in the Government of India, or persons who have at least 25 years of work experience in an Indian or international public financial institutions; or persons of exceptional merit and track record at the national or international level in their relevant field.

 

The Financial Sector Regulatory Appointments Search Committee (FSRASC) – a body which will select the candidates – can also identify and recommend any other person, based on merit. This is for people who have not applied for the post.

 

“The committee may also recommend relaxation in the eligibility and qualifications/experience criteria, in respect of outstanding candidates,” the advertisement had stated.

 

Patra, who is a member of the monetary policy committee (MPC), was first appointed as deputy governor in January 2020 for three years. He is the deputy governor in-charge of the monetary policy department, among others. Last year, the government extended his term by another year.