With Michael Debabrata Patra’s term as deputy governor expiring in January, the Reserve Bank of India (RBI) has advertised the vacancy by inviting applications for a new deputy governor for three years. The RBI has, however, not indicated the role the new appointee will play. Patra, who headed monetary policy at the central bank, is currently on his second extension.
Those candidates, who have at least 25 years of experience in public administration and at the level of secretary or equivalent in the government, will be considered for the post. Besides, according to an RBI advertisement, candidates with 25 years of experience in an Indian or international public financial institution, or those having an exceptional track record at the national or international level in relevant fields may also apply.
Market experts believe that Patra’s exit is an indication of RBI Governor Shaktikanta Das getting another extension as other members are all new appointees.
