With no full-time Deputy Governor at the Reserve Bank of India to replace Anand Sinha, who demitted office last week, the finance ministry has said it will take a decision on the post soon.
“A decision will be taken soon and the post will not be vacant for very long,” said an informed source, adding that P Vijaya Bhaskar and R Gandhi — executive directors in the central bank are top contenders for the post.
B Mahapatra, who is second on the list of candidates selected by the search committee led by RBI Governor Raghuram Rajan is being considered too young for the post.
Meanwhile, the finance ministry is also understood to be considering an extension for Deputy Governor HR Khan. Khan’s three-year term is set to get over in July this year.
The current vacancy for the post of Deputy Governor fell vacant on January 18 when Sinha, who was in charge of the department of banking operations and development, retired after an extension of 11 months.
The search committee had shortlisted the three candidates for the job after interviewing eight EDs at the RBI. But G Gopalakrishna, the senior-most ED at the RBI, raised an objection that he was overlooked despite being the senior-most amongst all candidates. He is also understood to have pointed out that he belongs to the reserved community.
A candidate must be below 60 years of age to be eligible for the post of Deputy Governor of the RBI.