1 week ago
Government Appoints Three Directors to RBI Central Board
The government has chosen three people to join the central board of India’s central bank.
They are Annie George Mathew, Janmejaya Kumar Sinha and Syed Akbaruddin.
They will be part-time, non-official directors.
Their appointments are for four years.
However, the appointments can end sooner if further orders are issued.
The appointments were approved by a government committee.
The decision uses a section of the Reserve Bank of India Act, 1934.
The board will have 14 members instead of 11 after they join.
Annie George Mathew, Janmejaya Kumar Sinha and Syed Akbaruddin were appointed to the RBI Central Board.
The three appointees will serve as part-time, non-official directors.
Each appointment carries a four-year term, subject to earlier termination by further orders.
The appointments were approved under Section 8(1)(c) of the Reserve Bank of India Act, 1934.
The RBI Central Board’s strength will rise from 11 to 14 members after the appointments.
- Who
- The government appointed Annie George Mathew, Janmejaya Kumar Sinha and Syed Akbaruddin.
- What
- They were appointed part-time, non-official directors on the Reserve Bank of India Central Board.
- Where
- The appointments are to the Central Board of the Reserve Bank of India.
- When
- The appointments take effect from the date of notification and were announced in an order issued on Saturday.
- Why
- The appointments add three members to the RBI Central Board under Section 8(1)(c) of the Reserve Bank of India Act, 1934.
Key facts
- Appointees
- Annie George Mathew, Janmejaya Kumar Sinha and Syed Akbaruddin
- Positions
- Part-time, non-official directors
- Term
- Four years or until further orders, whichever is earlier
- Effective date
- The date of notification
- Current board strength
- 11 members, including the governor and deputy governors
- New board strength
- 14 members after the appointments
- Approval authority
- Appointments Committee of the Cabinet
Sources
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