RBI Re-Nominates Natarajan Chandrasekaran as Director of its Central Board
- The Central Government nominated Tata Sons’ Natarajan Chandrasekaran as a part-time non-official director on the Reserve Bank of India’s central board on Sunday. Chandrasekaran, who was the Chief Operating Officer of the Tata Consultancy Services earlier and now the Chairman of Tata Sons, has been appointed as the official director for the period of two years beyond March 3, 2020, or until further orders.
- The government had first nominated Chandrasekaran, Chairman of the Board of Tata Sons since January 2017, as Director on the central board of directors of the RBI for a period of four years with effect from March 4, 2016, or until further orders.
- The RBI’s central board currently has 15 directors, including the Governor and three Deputy Governors. India’s apex bank’s board comprises of official and non-official directors. The official directors include the Governor and up to four Deputy Governors, while the non-official directors can comprise of up to ten directors from various fields and two government officials and one director from each of four local boards of the RBI.
- Along with N Chandrasekaran, the Central Board Directors include Dr Ashok Gulati, Manish Sabharwal, Dilip Shanghvi, Prasanna Mohanty, Satish Kashinath Marathe, Sachin Chaturvedi, Revathy Iyer, Swaminathan Gurumurthy, Debasish Panda and Tarun Bajaj.
The Reserve Bank of India (RBI) is India’s central bank, which controls the issue and supply of the Indian rupee. RBI is the regulator of the entire Banking in India. RBI plays an important part in the Development Strategy of the Government of India.RBI regulates commercial banks and non-banking finance companies working in India. It serves as the leader of the banking system and the money market. It regulates money supply and credit in the country.
- Headquarters– Mumbai, Maharashtra
- Formation– 1 April 1935
- Deputy Governors– 4 (Bibhu Prasad Kanungo, Mahesh Kumar Jain, Michael Debabrata Patra, one is yet to be appointed)
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