The government of India has set in motion process to select the deputy governor (DG) at Reserve Bank of India to succeed S S Mundra, who demits office at end of July 2017.
Mundra, who became deputy governor on July 31, 2014, is looking after a portfolio of banking and non-banking supervision, human resource management, financial inclusion and coordination.
According to an advertisement placed on RBI website, candidates should have at least fifteen years of experience in banking and financial market operations with extensive experience as a full-time director/ board member. A person should have to understand, at a very senior level, of supervision and compliance in the financial sector.
Spelling out desirable qualification, the government said the individual should have an appreciation of the role of banks in large corporate lending, in an environment with strong bond markets.
Understanding of bankruptcy, restructuring and overseeing the risk management function in a large financial institution would be a desirable qualification.
The age of the candidate should not more than 60 years of age as on 31.07.2017. The age criteria may, however, be relaxed in case of deserving candidates. The post carries the pay scale of Rs 2,25,000 per month (fixed). The appointment will be for a period of three years and the person will be eligible for re-appointment, it added.