Government in hunt for new deputy governor

MUMBAI: The government is seeking applications for the post of deputy governor of the Reserve Bank of India to replace Urjit Patel who took over as RBI chief earlier this month. In a notice on the RBI website, the government has put out a detailed job description for the post, and for the first time, released a one-page application form.

Persons with minimum of 25 years work experience in public administration or in an Indian international public financial institution and are below 60 years as of September 4, 2016, are eligible to apply, the notice said. The ap pointment will be for three years with an option for extension. The post will carry a salary of Rs 80,000 per month. The last date for applications is October 21.

RBI has four deputy governors in charge of different departments within the central bank. Two of them come from outside the central bank, one typically an economist and another a former public sector banker.

Patel, for instance, had worked at the International Monetary Fund and also for private sector companies such as IDFC, Reliance Industries Ltd, Boston Consultancy Group (BCG), and US-based think-tank Brookings Institution.