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Finance Ministry has invited applications for the post of Deputy Governor of RBI. The appointment replaces Deputy Governor Michael Debabrata Patra, whose extended tenure ends on January 14, 2025. This post of Deputy Governor of 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'. As per the eligibility criteria mentioned in the public advertisement, applicants must have at least 25 years of work experience in public administration with experience at the level of Secretary or equivalent in the Government of India; OR Must have at least 25 years of work experience in an Indian or international public financial institution.
What will be the salary?
The public notification states, 'Candidates should not be more than 60 years of age as on January 15, 2025. The appointment is for a period of three years and the individual 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 30 November 2024. There are four deputy governors in the Central Bank. An economist, a commercial banker and two from the bank are appointed to oversee the monetary policy department.
The committee may recommend
“It should be noted 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,” the notice said. ” Consider the eligibility and qualifications/also recommend relaxation in experience norms in respect of excellent candidates. FSRASC is chaired 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 first appointed deputy governor in January 2020 for a three-year tenure. Later he was given extension of one year twice.