Interview for RBI deputy governor post on July 29

Explaining the regulatory action, the RBI said The Karad Janata Sahakari Bank does not have adequate capital and earning prospects.

A search panel headed by the Cabinet Secretary is scheduled to interview candidates on July 29 to find a successor for RBI Deputy Governor S S Mundra, who is completing his three-year term this month-end.

The Financial Sector Regulatory Appointment Search Committee (FSRASC) has shortlisted about 10 names who have been called for interview on July 29, sources said.

Some of the bankers who have been shortlisted include Canara Bank Managing Director Rakesh Sharma, Andhra Bank Managing Director Suresh N Patel, Vijaya Bank Managing Director Kishore Sansi.

Besides, former managing directors of Union Bank of India and Oriental Bank of Commerce Arun Tiwari and Animesh Chauhan, respectively are also in the fray for the position reserved for a banker.

A few names from the private sector have also been shortlisted, sources said.

The central bank has four deputy governors -— two from within the ranks and one commercial banker and another an economist to head the monetary policy department.

The members search committee includes RBI Governor, Financial Services Secretary and three independent members.

Independent members of the committee are Rajiv Kumar, senior fellow Centre for Policy Research; Manoj Panda, director, Institute of Economic Growth; and Bimal Patel, director, CEPT.

According to the notice put up on the RBI's website, applicants should have extensive experience as a full-time director or board member and possess understanding, at a very senior level, of supervision and compliance in the financial sector.

Strong competencies working with financial performance data, including interpreting, summarising and communicating high-level output and strong and clear communication skills on matters of public policy are also listed as criteria for sending application, it said.

Last date for filing applications was June 21 and those applying for the post should not exceed 60 years of age as on July 31 2017.

Following this about 90 applications had come and after scrutiny, about 10 were shortlisted.

The appointment will be made for a period of three years and the person will be eligible for re-appointment. The post will have a fixed salary of Rs 2.25 lakh per month plus allowances.