Shri B. P. Kanungo re-appointed as RBI Deputy Governor

I had argued earlier to give a fixed, long-term and non-renewable contract for RBI Governors and DGs.

The government recently reappointed current RBI DG BP Kanungo whose three year term was to end on 2-April 2020.

The Central Government has re-appointed Shri B. P. Kanungo as Deputy Governor, Reserve Bank of India for a further period of one year with effect from April 3, 2020, or until further orders, whichever is earlier, upon completion of his existing term on April 2, 2020.

I can still understand the reappointment given such depressing times and need for continuity. But the highlighted bit is just not needed. Why use such lega; language during these times. On one hand the extension is merely for an year and on other you are telling the candidate that your tenure could be cut short by some further order.

I checked the current tenure of the 4 DGs. We should find a replacement for Mr Vishwanthan soon or give him another extension hopefully of a reasonable term than just 1 year types..

Name Tenure
Dr. M. D. Patra 15.01.2020 onwards (3 year contract)
Shri M. K. Jain 22.06.2018 onwards (3 year contract)
Shri B.P. Kanungo 03.04.2017 – 02-04- 2020 (got 1 year extension)
Shri N. S. Vishwanathan 04.07.2016 – 3-07-2019 (serving on a 1 year extension)

 

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