Appointment of Deputy Governor of RBI

About Deputy Governor of RBI

The Central Bank has 4 Deputy Governors appointed by the Central Government.
Qualifications:
- A person must have at least 25 years of work experience in Public Administration including experience at the level of Secretary or equivalent in the Government of India;
- or At least 25 years of work experience in an Indian or International Public Financial Institution.
Tenure: 3 years (Eligible for reappointment).
Participation in a meeting of the Central Board: A Deputy Governor, if nominated, may attend any meeting of the Central Board and take part in its deliberations but is not entitled to vote.
Salaries and allowances: The Deputy Governor receives such salaries and allowances as determined by the Central Board, with the approval of the Central Government.
Removal: The Deputy Governor of RBi may be removed from his/her office by the Central Government.

Financial Sector Regulatory Appointments Search Committee (FSRASC)

FSRASC is the final authority that recommends the nomination of the governor and deputy governor of RBI.
The Cabinet Secretary heads it. The other members of the committee include the Secretary Department of Financial Services, RBI Governor and three outside experts.