The issue of appointing a deputy governor of the Reserve Bank of India in place of K.C. Chakrabarty, who has sought early retirement, has been referred to the Election Commission. It appears that the central government wants to play it safe although a search committee headed by RBI governor Raghuram Rajan has idenfied the eligible candidate. The issue has been referred to the Election Commission in view of the model code of conduct being in place in view of the elections. The search committee had interviewed the heads of nine public sector banks for this purpose and according to sources, Punjab National Bank CMD K.R. Kamath, and Bank of Baroda CMD, S.S. Mundra, are front runners for this post
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