Finance ministry invites applications for RBI’s deputy governor

Mumbai (Maharashtra) [India], March 20 (ANI): The Finance Ministry has invited applications for the post of deputy governor of the Reserve Bank of India (RBI) to be appointed in place of MK Jain whose tenure comes to an end in June.

According to a public statement which came on RBI website, the person should have at least fifteen years of experience in banking and financial market operations and extensive experience as a full-time director/board member.
The statement said the person should have an understanding of bankruptcy /restructuring /turnaround/credit models, or overseen the risk management function in a large financial institution.

Among the requirements, the person should not be more than 60 years of age as on June 22, 2023. The last date of application for the post is April 10.

Strong competencies working with financial performance data, including interpreting, summarising and communicating high-level output and strong and clear communication skills on matters of public policy are also listed as criteria for sending an application.

The appointment will be for a period of three years and the person will be eligible for re-appointment.

Currently, the other three Deputy Governors of the RBI are Michael D Patra, T Rabi Sankar and Rajeshwar Rao.

MK Jain had served as the managing director and chief executive officer of IDBI Bank before being appointed as the deputy governor of the Reserve Bank Of India. Before joining IDBI Bank, he headed Indian Bank.