Government of India appointed Syed
Akbaruddin, Annie George Mathew, and Janmejaya Kumar Sinha as part-time,
non-official directors on the Central Board of the Reserve Bank of India
¨
The Government of India
appointed Syed Akbaruddin, Annie George Mathew, and Janmejaya Kumar Sinha as
part-time, non-official directors on the Central Board of the Reserve Bank of
India (RBI).
¨
The appointments were
approved by the Appointments Committee of the Cabinet (ACC).
¨
The appointments were
made under Section 8(1)(c) of the RBI Act, 1934.
¨
The tenure of all three
directors is four years.
¨
Following these
appointments, the active strength of the RBI Central Board increased from 11 to
14 members.
¨
The Central Board of the
RBI is the apex governing body of the central bank.
¨
The Board includes
official directors, non-official directors, and government nominees.
¨
It exercises powers
relating to the general superintendence and direction of the RBI.
¨
Section 8 of the RBI Act,
1934 provides for the constitution of the Central Board.
¨
Section 8(1)(c) deals
with the appointment of non-official directors.
¨
The RBI was established
in 1935 under the RBI Act, 1934.
¨
Syed Akbaruddin served as
India’s Permanent Representative to the United Nations.
¨
Annie George Mathew is an
officer of the Indian Audit and Accounts Service (IA&AS) and a full-time
member of the Sixteenth Finance Commission.
¨
Janmejaya Kumar Sinha is
an economist and former Chairman of Boston Consulting Group Asia-Pacific.
¨
The Sixteenth Finance
Commission is a constitutional body that examines Centre-State fiscal
relations.
