New Delhi: The Finance Ministry has received nearly 100 applications for the deputy governor post of the Reserve Bank of India, stated a report. These applications have been sent to a high-level panel to recruit the most suitable candidate, stated sources.

It must be noted that the RBI had invited applications for the deputy governor post soon after Viral Acharya had resigned six months before the scheduled end of his term. The deadline for submitting the application for the post was on August 30 this year. Acharya’s stint as the deputy governor ended in July. He was taking care of the monetary policy department of RBI, which includes the forecasting and modelling units.

Meanwhile, it is the discretion of the Financial Sector Regulatory Appointments Search Committee (FSRASC), headed by the cabinet secretary, to recommend any other candidate, who has not applied for the post, purely based on merit.

A special relaxation in the eligibility and experience criteria can be ruled out by the committee if need be while choosing to recruit an outstanding candidate.

A public notice stated that the tenure of a deputy governor is a maximum of three years and the person can be re-appointed.

Eligibility Criteria for RBI Deputy Governor:

1) The candidate should not be over 60 years of age as on July 24, 2019.

2) The candidate should have at least 25 years of work experience in public administration, including at the level of secretary or an equivalent level in the central government.

3) Candidates with a minimum of 25 years of work experience in an Indian or international public financial institution are eligible to apply for the post.

The pay scale of a deputy governor of RBI is Rs 2.25 lakh per month at level 17, stated an official notification.

While there are four deputy governor positions for RBI, currently there are only three deputy governors namely N S Vishwanathan, B P Kanungo and M K Jain. Besides, Shaktikanta Das is the present RBI Governor.