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Dr KC Chakraborty gets 3-month extension at RBI

Dr KC Chakraborty got an extension for three months, even as a proposal to extend his tenure by two years is pending before the Appointment Committee

 

New Delhi: The government has extended the tenure of Reserve Bank of India (RBI) deputy governor Dr KC Chakraborty by three months, reports PTI.

"The Government of India today re-appointed Dr KC Chakraborty as the deputy governor of the Reserve Bank of India for a further period of three months beyond 14 June 2012 or until further orders, whichever is earlier," the RBI said in a statement.

He was appointed as deputy governor in 2009 for three years and his tenure was expiring on 14th June.

Meanwhile, a top Finance Ministry official said that the government was also considering to extend his term by two years. "A proposal to extend his tenure by two years is before the Appointment Committee of Cabinet (ACC) for approval ," he said.

A RBI deputy governor can be appointed for five years and the retirement age is 62.

Besides Dr Chakraborty, there are three more Deputy Governors in the RBI.

Earlier, he was chairman and managing director of state-run Punjab National Bank and Indian Bank.

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COMMENTS

Java

4 years ago

Good move. It will help the economy recover unnecessarily lost ground. SBI deserves congratulations for being proactively business and agriculture friendly.

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