7 candidates shortlisted for RBI deputy guv post

The post had fallen vacant after Viral Acharya resigned in July – six months before the end of his term. The Reserve Bank has four deputy governors. At present, there are three deputy governors - N S Vishwanathan, BP Kanungo and MK Jain.

The Financial Sector Regulatory Appointment Search Committee (FSRASC) shortlisted seven names who have been called for the interview on November 7, sources said.

The search panel also includes RBI Governor, Financial Services Secretary and some independent members. Acharya, a NYU Stern School of Business professor, was looking after the monetary policy department, including its forecasting and modelling unit, in the RBI. According to a public notice, the appointment will be for a period of three years and the person will be eligible for re-appointment.

Rajan to FM: Two-thirds of my tenure was under BJP

Former RBI Governor Raghuram Rajan, who faced a stinging attack from Finance Minister Nirmala Sitharaman for presiding over the “worst phase” of the Indian banking sector, on Thursday reminded her that two-third of his tenure as the head of the central bank was under theBJP government.

Rajan, who was Governor of RBI from September 5, 2013 to September 2016, said during his term a clean-up of the banking sector that was “clogging” with bad loanshad begun and the job remains unfinished.

He said the country needs a new generation of reforms to accelerate economic growth. At 5 per cent GDP growth rate, India was witnessing substantial economic slowdown.