THE central board of the Reserve Bank of India (RBI) is facing shortage of nine non-official Directors, including seven from the category of people of eminence from various fields. The Government nominates 10 eminent persons from various fields to the central board of the RBI, besides four Directors (one from each of the four local boards). The Government is yet to appoint seven non-official Directors from the category of people of eminence from various fields while representations from local board from western and southern areas are missing.

 

These non-official directors are appointed for a period of four years and are eligible for re-appointment. Currently, only three eminent personalities -- Tata Sons Chairman Natarajan Chandrasekaran, seasoned banker S K Marathe and CA and RSS ideologue Swaminathan Gurumurthy -- are serving the central board. They are nominated under Section 8(1)(c) of the RBI Act, 1934, according to the RBI’s website. With regard to Directors from local boards, eastern area is represented by Sachin Chaturvedi and northern area by Revathy Iyer, while nomination of two Directors is awaited.