DEPUTY GOVERNOR (RBI)

Oct. 27, 2018

Reserve Bank of India (RBI) deputy governor Viral Acharya has once again raised the issue of independence of the RBI and its lack of powers to regulate public sector lenders.

About:

The Reserve Bank's affairs are governed by a central board of directors.
Appointment procedure: The board is appointed by the Government of India in keeping with the Reserve Bank of India Act.
Tenure: They are appointed/nominated for a period of four years.
Composition:

Official Directors

· Full-time : Governor and not more than ‘four Deputy Governors’

Non-Official Directors

· Nominated by Government: ten Directors from various fields and two government Official

· Others: four Directors - one each from four local boards

Source : Times of India

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