CENTRAL BOARD OF THE RBI

April 28, 2019

The government has appointed Sachin Chaturvedi and Revathy Iyer on the central board of the Reserve Bank of India.

Recent decision:

  • Sachin Chaturvedi heads Delhi-based think tank Research and Information System for Developing Countries (RIS).

  • Revathy Iyer is a former Indian Audit and Accounts Services (IAAS) officer.

  • Both have been appointed by the Central Government under Section 8 of the Reserve Bank of India Act, 1934, for a period of four years with effect from September 19, 2018.

Central board of the RBI:

  • The board members are not responsible for setting the interest rate, but will provide a broader guidance to the central bank.

  • With the recent appointments, RBI will now have 18 members on its central board, including four deputy governors and the governor.

  • The Economic Affairs Secretary and Financial Services Secretary of the Finance Ministry are also on the board.

Source : The Hindu