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RBI advertises for deputy governor

The Reserve Bank of India has released an advertisement calling for applications for the position of a deputy governor. This is for the first time that an advertisement has been issued in newspapers for the position. The advertisement said the central bank needs candidates with over 15 years of experience in banking and financial market operations. Besides, they should also be whole-time directors or board members. The selected candidate will be replacing S.S. Mundra whose term will be ending in July 2017. The advertisement does not specify whether the candidate should be from the public sector or private sector banks. This would mean the government is not against appointing a person from the private sector to the key position. The advertisement also specifies that the application should have an appreciation, as a practitioner, of the role of banks in large corporate lending, in an environment with strong bond markets is desirable, besides seeking an understanding of bankruptcy/ restructuring/ turn-around/ credit models, and/or overseen the risk management function in a large financial institution. The appointment is for a period of three years initially and the selected person is eligible for re-appointment. The applications have to be submitted to the under secretary in the department of financial services of the ministry of finance. The central bank has already announced it is intending to have a chief financial officer.

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