The race for the Reserve Bank deputy governor’s post, which is set to be vacated by incumbent KC Chakrabarty in April is getting intense. A long queue of public sector bankers appeared for interviews before a selection panel on Friday.
The bankers who have thrown their hats into the ring for the position are SS Mundra of Bank of Baroda, KR Kamath of Punjab National Bank, Arun Kaul of UCO Bank, VR Iyer of the Bank of India, TM Bhasin of Indian Bank, Ashwani Kumar of Dena Bank, M Narendra of Indian Overseas Bank and Canara Bank chief RK Dubey.
These PSU bankers appeared for the interview before a panel comprising, among others, RBI Governor Raghuram Rajan and financial services secretary Rajiv Takru.
When Chakrabarty was appointed five years ago, the government had to conduct the interview twice as the all the bank chiefs who were interviewed in the first round refused to accept the post. Chakrabarty was appointed in the second round.
Though the interview has been conducted on Friday, the final decision will be taken only after a new government is in place.
Another vacancy of deputy governor after Anand Sinha retired has also to be filled up. Though the selection procedure is already over and it is believed that R Gandhi, one of the senior executive directors, has been selected, the government hasn’t announced any names so far.
KC Chakrabarty, who was earlier chief of PNB, had recently sought early retirement and wished to be relieved from his duties at the end of office hours on April 25. One of the four deputy governors is selected from PSU bankers.
After Raghuram Rajan took over as the RBI Governor, the RBI was keen to appoint a “prominent banker” who is not necessarily a CMD of a public sector bank.
The request to change the existing rules was apparently to make Nachiket Mor, a former deputy managing director of ICICI Bank and now a board member of the RBI, among others eligible for the position after Chakrabarty retires from the RBI. This request, however, was shot down by the finance ministry.