How The RBI Governor Is Appointed?

“The RBI Governor is not “elected”, but its “appointed”.’’The affairs of the reserve bank of India are governed by the central board of dir...

“The RBI Governor is not “elected”, but its “appointed”.’’The affairs of the reserve bank of India are governed by the central board of directors means (CBD). 

According to the section-8, reserve bank of India act, the members of the board are appointed by the Indian government. The central board of directors as the administrative body of the reserve bank of India, which includes two sets of directors, first is official directors and second is Non official directors. 

The official directors comprised of the governor and it is not more than the four deputy governor who are nominated by the central government of India under the act of RBI. 

So, RBI governor is appointed by the government. In addition, the official directors, there are fourteen non-official directors also in the central board of India.


The deputy governor and the governor are appointed for five years, not exceeding five years. The time of the governor is decided by the government at the time of the appointment. The deputy governor is appointed by the central government in the absence of the governor. Central government may decide the salary and allowance of governor with the approval of the central government. The governor can be removed from the post of governor at any time by the central government. 

The criteria of RBI governor are common-economist, outstanding finance ministry etc.

List of  RBI Governors:

No.
Name of Governor

Starting Year
Ended Year
1
Dr. I.G.Patel
1-December-1977

15-September-1982
2
16-september-1982

14-january-1985
3
Amitav Ghosh
15-january-1985

4-february-1985
4
R.N.Malhotra
4-february-1985

22-december-1990
5
S.Venkitaramanan
22-december-1990

21-december-1992
6
C.Rangrajan
22-december-1992

21-november-1997
7
Bimal Jalan
22-november-1997

6-september-2003
8
Y.V.Reddy
6-september-2003

5-september-2008
9
D.Subbarao
6-september-2003

4-september-2013
10
Raghuram Rajan
4-september-2013

               -

From the above information we can know that the RBI governor is not elected but it should be appointed. Recently the governor of RBI is Raghuram Rajan. The central government is appointed the governor and all the rules regulation and time is only decided by the central government.

COMMENTS

Name

Business,20,Finance,13,Infographics,14,Internet,23,Technology,19,
ltr
item
Vyas Infotech: How The RBI Governor Is Appointed?
How The RBI Governor Is Appointed?
https://4.bp.blogspot.com/-j0Pea7Oo5js/V1gAriluBQI/AAAAAAAAATU/6F_fT9JuXIo5qCRnZXQ7x_DBfmSJjvZ6QCLcB/s640/RBI.jpg
https://4.bp.blogspot.com/-j0Pea7Oo5js/V1gAriluBQI/AAAAAAAAATU/6F_fT9JuXIo5qCRnZXQ7x_DBfmSJjvZ6QCLcB/s72-c/RBI.jpg
Vyas Infotech
http://www.vyasinfotech.com/2016/06/how-rbi-governor-is-appointed_83.html
http://www.vyasinfotech.com/
http://www.vyasinfotech.com/
http://www.vyasinfotech.com/2016/06/how-rbi-governor-is-appointed_83.html
true
5236136159781716145
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy