Tarun Bajaj appointed as Director on RBI Central Board
Tarun Bajaj appointed as Director on RBI Central Board

Tarun Bajaj appointed as Director on RBI Central Board

  • The government has appointed Economic Affairs Secretary Tarun Bajaj as a director on the central board of Reserve Bank of India (RBI).
  • He will succeed Atanu Chakraborty, who retired on April 30.


  • He is a 1988 Batch IAS officer.
  • Prior to taking over as Economic Affairs Secretary, he was the Additional Secretary in Prime Minister’s Office.
  • Before joining the Prime Minister’s Office in 2015, Bajaj was Joint Secretary in the Economic Affairs Department, looking after multilateral funding agencies division.
  • He worked as Joint Secretary and Director in the Department of Financial Services. As a Joint Secretary in the Department of Financial Services for four years, he was looking after the insurance division.


  • The Reserve Bank of India was established on 1st April 1935 under the RBI Act, 1934 on the recommendations of Hilton Young Commission.
  • It was nationalized on 1st January 1949 through the RBI (Transfer of Public Ownership) Act, 1948.
  • RBI’s HQ- Mumbai
  • RBI’s Financial year-June-May.
  • RBI Governor- Shaktikanta Das
  • Central bank of the country and Financial Market Regulator.


  • The Reserve Bank’s affairs are governed by a central board of directors who are nominated/
  • appointed under Section 8(1) of the RBI Act, 1934. The board is appointed by the Government of India in keeping with the Reserve Bank of India Act.
  • They are appointed/ nominated for a period of four years.
  • The board meets once in every six months and nearly once in every quarter. It consists of the following
  1. Official Directors: Full-time-Governor and not more than four Deputy Governors
  2. Non-Official Directors: Nominated by Government-Ten Directors from various fields and two government Official And four directors each from four local boards

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