Finance Ministry Invites Applications For Appointment Of New RBI Deputy Governor
Besides the governor, there are four deputy governors in Reserve Bank of India. (Photographer: Karen Dias/Bloomberg)

Finance Ministry Invites Applications For Appointment Of New RBI Deputy Governor

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The finance ministry has sought applications for the post of Reserve Bank of India deputy governor, a position that fell vacant after Viral Acharya resigned on June 24, six months before the scheduled end of his term.

“The appointment will be for a period of three years and the person will be eligible for reappointment,” ministry said while inviting applications for the post.

The applicant should not be more than 60 years of age as on July 24.

According to a notice published on the ministry’s website, the applicant should have at least 25 years of work experience in public administration, including at the level of secretary or equivalent in the central government.

Persons with at least 25 years of work experience in an Indian or international public financial institution could also apply for the post.

On salary and allowances, the notice said the post carries the pay scale of Rs 2.25 lakh (Level 17). The last date to apply for the post is Aug. 19.

The notice further said that the Financial Sector Regulatory Appointments Search Committee is “free to identify and recommend any other person also”, based on merit, who hasn’t applied for the post.

The committee can also recommend relaxation in the eligibility and qualifications/experience criteria, in respect of outstanding candidates.

Acharya was looking after the RBI’s monetary policy department, including forecasting and modelling unit. He ended his stint as the deputy governor earlier this month after announcing in June that he would resign.

Besides the governor, there are four deputy governors in the central bank.

Currently, there are three deputy governors—NS Vishwanathan, BP Kanungo and MK Jain. Shaktikanta Das is the RBI governor.

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