After Viral Acharya's exit, finance ministry gets nearly 100 applications for post of RBI deputy governor

New Delhi: Nearly 100 candidates have applied for the post of deputy governor of the Reserve Bank of India (RBI) - a position that fell vacant after Viral Acharya resigned six months before the scheduled end of his term. The finance ministry has received about 100 applications for the post, which have been sent to the high-level panel that will select a suitable candidate for the post, sources said. The Financial Sector Regulatory Appointments Search Committee (FSRASC), headed by the cabinet secretary, is free to identify and recommend any other person too, who has not applied for the post, based on merit. The committee can also recommend relaxation in the eligibility and qualifications/experience criteria, in respect of outstanding candidates.

The last date for submission of application for the position was 30 August. Acharya was looking after RBI’s monetary policy department, including its forecasting and modelling unit. He ended his stint as the deputy governor earlier in July. As per the public notice, the appointment will be for a period of three years and the person will be eligible for re-appointment. The applicant should not be more than 60 years of age as on 24 July, 2019, it said, adding that the applicant should have at least 25 years of work experience in public administration, including at the level of secretary or equivalent in the central government. Persons with at least 25 years of work experience in an Indian or international public financial institution could also apply for the post, it had said. On salary and allowances, the notice said the post carries the pay scale of Rs 2.25 lakh per month (level 17). Besides Governor Shaktikanta Das, there are positions for four deputy governors in the RBI. At present, there are three deputy governors - NS Vishwanathan, BP Kanungo and MK Jain.