A logo of the Reserve Bank of India (RBI) | Photo credit: Reuters
The Ministry of Finance has invited applications for the post of Deputy Governor of the RBI in place of Michael Debabrata Patra, whose extended tenure ends on January 14, 2025.
This post of Deputy Governor of the RBI is for economists. The selected candidate would head the Monetary Policy Department and also be a member of the rates panel – the Monetary Policy Committee.
As per the eligibility criteria mentioned in the public notice, applicants must 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 have a minimum of 25 years of work experience in an Indian or international public financial institution.
In addition, the candidates should not be older than 60 years on January 15, 2025.
The appointment is for a period of three years and the person is eligible for reappointment. The post has a monthly salary of ₹2.25 lakh (level 17).
The last date for submitting applications to the Ministry of Finance’s Department of Financial Services is November 30, 2024.
The central bank has four deputy governors; an economist overseeing the monetary policy department, a commercial banker and two from within the ranks.
The notice stated: “It may be noted that the Financial Sector Regulatory Appointments Search Committee (FSRASC) shall be at liberty to also identify and recommend any other person, on merit, who has not applied for the post.
“The committee may also recommend relaxation in the eligibility and qualification/experience criteria in respect of outstanding candidates,” the notice said.
FSRASC is headed by the Cabinet Secretary. The other members of the committee include the Secretary of the Ministry of Financial Services, the Governor of the RBI and three external experts.
Mr. Patra was first appointed deputy governor in January 2020 for a three-year term and was subsequently granted two one-year extensions.
Published – Nov 4, 2024 12:17 PM IST
