Shri Manish Sabharwal: 4. Indian Rupee currency notes, issued by the Reserve Bank of India, bear the governor's signature. The deputy governor appointments are made for an initial period of three years and the person is eligible for reappointment. Shri Mahesh Kumar Jain Deputy Governor: @12. RBI executive directors M Rajeshwar Rao and Lily Vadera were the top contenders to succeed NS Vishwanathan as the central bank's fourth deputy governor, ET reported on August 25. Mumbai: The government said on Wednesday that it has appointed Reserve Bank of India’s ().executive director Rajeshwar Rao as the deputy governor of the central bank. Mint RBI rejigs four deputy governor portfolios 1 min read. Governor (and also Deputy Governors) is eligible for reappointment or extension. Dr. M. D. Patra Deputy Governor: @13. The RBI's other three deputy governors are B P Kanungo, M K Jain and Michael Debabrata Patra. The position has been lying vacant for over four months after N.S. This will alert our moderators to take action. The Centre on Wednesday appointed RBI’s senior-most Executive Director M. Rajeshwar Rao as Deputy Governor.He succeeds N.S. The RBI's other three deputy governors are BP Kanungo, MK Jain and Michael Debabrata Patra. The Tarapore committee was set up by the Reserve Bank of India under the chairmanship of former RBI deputy governor S. S. Tarapore to "lay the road map" to capital account convertibility. Shri Shaktikanta Das Governor: @10. Days Trial, TimesPrime subscription included worth ₹999*. Download The Economic Times News App to get Daily Market Updates & Live Business News. The deputy governor gets a fixed salary of Rs 2.25 lakh per month plus allowances. Names and addresses of the Central Board of Directors of the Reserve Bank of India; 1. The RBI announced portfolios of the four deputy governors effective from October 12, consequent upon the appointment of Rao as deputy governor. Section 8 (4) of the RBI Act explains the term of the Governor and Deputy Governors. Prior to joining RBI, he was Chairman and Managing Director, Bank of Baroda (India’s second largest bank). Gandhi joined Reserve Bank of India in 1980. 15 Besides the department of regulation, Rao will look after the departments of communication, enforcement, inspection, legal, and risk monitoring, the central bank said in a statement. He advocated a more “calibrated and graded regulatory framework, proportionate to … Kanungo, whose term was to end on 2 April, had taken charge as deputy governor in April 2017. Vishwanathan, who retired three months ahead of schedule due to health reasons, was in-charge of portfolios … He was appointed as Deputy Governor in July 2014for a period of three years. Let's reshape it today, Hunt for the brightest engineers in India. RBI Board. He had a brief stint at the Securities Exchange Board of India. The RBI's other three deputy governors are BP Kanungo, MK Jain and Michael Debabrata Patra. Former RBI Governor Raghuram Rajan and ex-Deputy Governor Viral Acharya. Why follow tips? The maximum strength of the board can be 21 including the governor of RBI and deputy governors. Rao was elevated as executive director in November 2016. He is currently looking after Internal Debt Management Department, International Department and Financial Markets Operation Department. The board shall have maximum of four deputy governors. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison. As a career central banker, he has exposure in various aspects of the central bank's functioning. Shri B.P. Updated Date: Get technology news, gadgets reviews & ratings. Earlier this year, the government extended Kanungo's tenure by a year with effect from 3 April, 2020. Jamke Rakhna Kadam, dear MPC members! He looks after the following portfolios of RBI: banking supervision, currency management, financial stability, rural credit, customer service, as also, the Reserve Bank’s human resources and security. Dr. Urjit R. Patel assumed charge as the twenty-fourth Governor of the Reserve Bank of India effective September 4, 2016 after serving as Deputy Governor since January 2013. He has also worked as the Banking Ombudsman, New Delhi and in the Reserve Bank's regional offices at Ahmedabad, Hyderabad, Chennai and New Delhi. Your Reason has been Reported to the admin. He has been appointed to the post for a period of three years, it said. Raghuram Rajan, a former RBI governor, and Viral Acharya, a former RBI deputy governor, said the proposal is a "bad idea". "The Appointments Committee of the Cabinet has approved the appointment of M Rajeshwar Rao, Executive Director, Reserve Bank of India to the post of Deputy Governor Reserve Bank of India (RBI)," a notification by the Department of Personnel and Training said. RBI chief Shaktikanta Das says economic recovery 'stronger than expected', but warns of downside risk due to recent COVID-19 surge, Ex-World Bank economist says RBI's proposal to allow businesses into banking is 'good-looking' step in 'bad direction', Laxmi Vilas Bank, DBIL merger effective from 27 Nov, says RBI after Cabinet nod. Mumbai: The Narendra Modi government is likely to conduct interviews on 22 August for the post of deputy governor in the Reserve Bank of India (RBI), sources told ThePrint. The five-member committee recommended a three-year time frame for complete convertibility by 1999–2000. Shri M. Rajeshwar Rao appointed as RBI Deputy Governor In pursuance of the Government of India notification dated October 8, 2020, Shri M. Rajeshwar Rao took over as the Deputy Governor of Reserve Bank of India on October 9, 2020 for a period of three years or until further orders, whichever is earlier. Copyright © 2020. The RBI Board is appointed by the Government of India in accordance with the RBI Act, 1934. Viral V. Acharya (born 1 March 1974) is an Indian economist who was appointed as Deputy Governor of Reserve Bank of India (RBI). Choose your winners rationally in 3 simple steps! Earlier this year, the government extended Kanungo's tenure by a year with effect from April 3, 2020. Kanungo Deputy Governor: @11. At present, the RBI has three deputy governors -- B P Kanungo, M K Jain and Michael Debabrata Patra. An economics graduate and a Master of Business Administration from the University of Cochin, Rao joined RBI in 1984. [2] [3] Before his appointment as deputy governor, Patra served as the executive director of the monetary policy department of RBI—where he moved to in 2006—and as such, was an internal member of the powerful Monetary Policy Committee .