The Reserve Bank of India (RBI) has started scouting for a Deputy Governor. The incumbent will succeed the outgoing Deputy Governor SS Mundra, who demitted office on July 30, 2017.
The RBI Act mandates a maximum of five official directors on its board: one Governor and a maximum of four Deputy Governors, one of whom is usually a former bank chairman.
Selection criteria
The incumbent will be appointed for a three-year term, after which they would be eligible for re-appointment. At least 15 years’ experience in banking and financial market operations is required, besides extensive experience as a full time director/board member.
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Other key strengths include supervision and compliance at the highest level, and strong data interpretation skills with exceptional clarity in communicating public policy matters. Understanding of corporate lending, bond markets, bankruptcy, restructuring, turnaround, credit modelling, and risk management would be a plus.
The incumbent – who should not be over 60 years of age as on July 30, 2017 – would be put on a fixed pay scale of Rs 2.25 lakh a month, said RBI, adding that the last date of application is March 14, 2018.
