The union government has appointed a panel to interview candidates for the post of Deputy Governor of the Reserve Bank of India.
- The term of Urjit Patel, the central bank’s incumbent in charge of monetary policy, expires in January. He was appointed for a three-year term by the previous United Progressive Alliance government and took charge in January 2013.
About Deputy Governors of RBI:
- The RBI has four deputy governors and typically two are from the outside, of which traditionally one is a commercial banker and the other an economist. The two others are promoted from within the central bank’s ranks.
- A central bank Deputy Governor can be appointed for a term with a maximum of five years or till the age of 62, whichever is earlier.
Currently, the other three deputy governors are H.R. Khan, R. Gandhi, both career central bankers, and S.S. Mundra.
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