Government invites applications for the post of Deputy Governor of RBI, for replacement of Michael Debabrata Patra
RBI, Reserve Bank Job: This post of Deputy Governor of the Reserve Bank of India (RBI) is for economists. The selected candidate will oversee the Monetary Policy Department and will also be a member of the rate-setting committee 'Monetary Policy Committee'.
The Ministry of Finance has invited applications for the post of Deputy Governor of RBI. The appointment is to be made as a replacement for current Deputy Governor Michael Debabrata Patra, whose extended three-month term comes to an end on 14 January 2025.
This post of Deputy Governor, RBI, is open for economists in general. The selected economist will be assigned the Monetary Policy Department while he or she will also be included in the rate-setting committee, 'Monetary Policy Committee '.
The applicants should possess experience, in words of public advertisement eligibility conditions, a minimum of 25 years in public administration and experience as Secretary to the Government or equivalent in Government of India, or a minimum of 25 years of work experience in Indian or international public financial institution.
It said, the age of the candidates should not be more than 60 years as on January 15, 2025. This appointment is for a period of three years and the selected person will be eligible for reappointment. The monthly salary for this post will be Rs 2.25 lakh (Level-17). The last date for submission of applications to the Department of Financial Services, Ministry of Finance is November 30, 2024.
The central bank has four deputy governors. An economist, a commercial banker, and two from the bank are appointed to oversee the monetary policy department.
The notice said, "It is worth noting that the Financial Sector Regulatory Appointment Search Committee (FSRASC) is free to identify and recommend any other person on the basis of merit, who has not applied for the post." It said, "The committee may also recommend relaxation in eligibility and qualification/experience criteria in respect of excellent candidates."
The FSRASC is headed by the Cabinet Secretary. Other members of the committee include the Secretary of the Department of Financial Services, the RBI Governor, and three external experts. Patra was appointed deputy governor for three years in January 2020 for the first time, with two extensions of one year each afterwards.
