Government invites applications for RBI Deputy Governor post

“It may be noted that the Financial Sector Regulatory Appointments Search Committee (FSRASC) is free to identify and recommend any other person also, based on merit, who has not applied for the post. The committee may also recommend relaxation in the eligibility and qualifications / experience criteria, in respect of outstanding candidates,” DFS said.

Deputy Governor Michael D. Patra’s tenure will end on January 15, 2025. Patra, who is in charge of monetary policy and is a member of the monetary policy committee, was given a one-year extension ahead of the end of his tenure earlier this year. Patra, with RBI Governor Shaktikanta Das, played a vital role in dealing with COVID-related impact on the economy. M. Rajeshwar Rao, T. Rabi Sankar and J Swaminathan are the three other Deputy Governors.

Meanwhile, the six-year tenure of Shaktikanta Das as the RBI Governor will end in December 2024.

However, there’s no word from the government about the RBI Governor post. Das, a retired IAS, assumed charge as the 25th Governor of the Reserve Bank on December 12, 2018.

In 2021, Union Government extended the tenure of Reserve Bank of India Governor Shaktikanta Das for another three years till December 2024, thus giving him a tenure of six years. He had assumed charge on December 12, 2018, after his predecessor Urjit Patel had cited personal reasons and abruptly resigned.

“The Appointments Committee of the Cabinet has approved the reappointment of Shaktikanta Das as Reserve Bank of India Governor for a period of three years beyond December 10, 2021, or until further orders, whichever is earlier,” a statement from the Department of Personnel & Training, said.