For the second time in a row, the Reserve Bank of India (RBI) has avoided the unpleasant situation of a senior official reporting to a junior one. This happened this week when H R Khan was appointed the new Deputy Governor superseding three others, V.K.Sharma, V.S.Das and G Gopalakrishna. But Khan’s portfolios were allocated in such a way that the three do not have to report to him directly. A similar situation was avoided in February, when Anand Sinha was appointed Deputy Governor, superseding V.K.Sharma. As a result of this shuffling, RBI officials have raised the question: if seniority is so sacrosanct, why doesn’t the search committee, which is headed by the governor, simply recommend the senior-most person for the job?
BS
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