Anand Mahindra, Venu Srinivasan, 2 others nominated as directors on RBI board

The government on June 14 nominated industralists Anand Mahindra, Pankaj Patel and Venu Srinivasan as well as former IIM-A professor Ravindra Dholakia as part-time non-official directors to the Reserve Bank of India’s (RBI) board.

The appointments will be for four years with effect from June 14, or until further orders, whichever is earlier, the RBI said in a statement.

Counted among the top industrialists of India, Mahindra is the Chairman of the Mumbai-headquartered multinational conglomerate Mahindra Group. Mahindra was awarded Padma Bhushan, the country's third-highest civilian honour, in January 2020.

Venu Srinivasan is the Chairman Emeritus of TVS Motor Company. He took over as the chief executive officer of Sundaram-Clayton, the holding Company of TVS Motor, in 1979. In the same year, TVS Motor Company was born.

Pankaj Patel is chairman of Zydus Lifesciences. He is already on the board of Invest India, a member of the Mission Steering Group under the National Health Mission, Drug Technical Advisory Board under the Ministry of Health & Family Welfare.

Ravindra Dholakia, is a retired professor of IIM, Ahmedabad, and was a part of the central bank-led Monetary Policy Committee (MPC). He has multi-year experience in regional economic development, economic analysis and policy, international economics and health economics.

The RBI’s affairs are regulated by a central board of directors who are appointed by the government in keeping with the Reserve Bank of India Act.