RBI Deputy Governor: The Finance Ministry has invited applications for the post of Deputy Governor of RBI. This appointment will replace Deputy Governor Michael Debabrata Patra, whose extended term ends on January 14, 2025. This post of Deputy Governor of the Reserve Bank of India (RBI) is for an economist. The selected candidate will oversee the monetary policy department and will also be a member of the rate-setting committee 'The Monetary Policy Committee (MPC). As per the eligibility criteria mentioned in the public announcement, applicants should have at least 25 years of experience in public administration, including experience at the Secretary or equivalent level in the Government of India.

Minimum of 25 years of experience is required.

Apart from this, those with at least 25 years of work experience in any Indian or international public financial institution can also apply. It said, that the age of the candidates should not be more than 60 years as of 15 January 2025. This appointment is for a period of three years and the person will be eligible for re-appointment. The monthly salary for this post will be Rs 2.25 lakh (Level-17). The last date for submission of applications to the Department of Financial Services, Ministry of Finance is 30 November 2024.

There are four deputy governors in the Central Bank
. Let us tell you that there are four deputy governors in the central bank. To oversee the monetary policy department, one economist, one commercial banker, and two are taken from the bank. The notice said, 'It is worth noting that the Financial Sector Regulatory Appointment Search Committee (FSRASC) is free to identify and recommend any other person based on merit, who has not applied for the post.'

A one-year extension was given twice. 
It said, 'The committee may also recommend relaxation in eligibility and qualification/experience criteria in respect of excellent candidates.' The FSRASC is headed by the Cabinet Secretary. Other members of the committee include the Secretary of the Department of Financial Services, the RBI Governor, and three external experts. Patra was first appointed Deputy Governor in January 2020 for a term of three years. Later he was given an extension of one year twice.