The Centre on Thursday appointed three part-time non-official directors on the Reserve Bank of India’s Central Board for a four-year term.
“In exercise of the powers conferred… the Central Government has nominated Dr. Rajiv Kumar, Dr. Ashok Gulati and Shri Manish Sabharwal as directors on the Central Board of the Reserve Bank of India for a period of four years with effect from February 9, 2017 or until further orders, whichever is earlier,” according to an RBI notification.
Manish Sabharwal is a businessman and entrepreneur, who is currently the chairman of Teamlease, which he co-founded. Prior to this, he also co-founded India Life, a human resource outsourcing company.
Mr. Kumar is a senior fellow at the Centre for Policy Research and has authored several books on India’s economy. He is also currently chancellor of the Gokhale Institute of Economics and Politics in Pune and is also the founding director of Pahle India Foundation, a non-profit research organisation.
Mr. Gulati is currently the Infosys Chair Professor for Agriculture at the Indian Council for Research on International Economic Relations (ICRIER). Prior to that, he was the chairman of the Commission for Agricultural Costs and Prices (CACP), the body responsible for recommending Minimum Support Prices (MSPs) of agri-commodities to the government.
In addition to this, the Cabinet also approved the proposal by the Department of Financial Services for appointment of three members on the local board of the RBI.
These include Prasanna Kumar Mohanty (Southern Local Board), Vallabh Roopchand Bhanshali (Western Local Board) and Sunil Mitra (Eastern Local Board), each of whom have been appointed for a period of four years.
Published - February 09, 2017 09:35 pm IST
