New Delhi: For the first, a panel of finance experts will suggest the names for the Reserve Bank of India Governor candidacy to the government.
According to a Times of India report, the government has asked a selection committee headed by Cabinet Secretary PK Sinha to recommend the names to take over the reins of the Central bank after incumbent Governor Raghuram Rajan’s tenure ends in September.
So far, the decision of the RBI Governor's post has been made by the Prime Minister in consultation with the Finance Minister.
The current move has been made to allay speculations that Raghuram Rajan may be considered for a second term.
Apart from the Cabinet Secretary, the committee comprises Additional Principal Secretary to Prime Minister, PK Mishra, and three outside experts -- Rajiv Kumar of Centre for Policy Research, Manoj Panda of the Institute of Economic Growth and Bimal N Patel from Gujarat National Law University.
A Finance Ministry representative will be a special invitee, it said.
The panel will send its recommendation to the appointments committee of Cabinet headed by the Prime Minister, which is entitle to take a final call.
