Move significant as new banking licences under his purview
The Reserve Bank of India (RBI) has recommended the government to extend the tenure of one of its Deputy Governors, Anand Sinha, by a year. Sinha, appointed in 2011, will complete his two-year term in February 2013. According to the rules, a Deputy Governor can be appointed for a period of five years or till the age of 62, whichever is earlier. Sinha will be 62 next February. If the government accepts the central bank’s request, it will set a precedent, central banking sources say, as no other Deputy Governor has served the RBI beyond the age of 62........
3 comments:
Top positions in Government, statutory organisations like RBI, CAG and Election Commission, Chief Justices of High Court and upwards in judiciary should be of a much longer tenure than they are now. The age barrier fixed long back should be reviewed. It does not augur well for a country like India to have even the highest post in the judiciary with around one year tenure when the incumbent takes charge, especially when all these individuals are later found to be ‘fit’ for being considered for positions with similar or higher responsibilities. These positions including the Deputy Governor of RBI should have a minimum tenure of 5 years.
I think this action by the RBI possibly may be to deny the other contenders for the post
I do not think giving extensions to the top jobs- whether in Govt. or semiGovt organisations -is a good idea. India has no dearth of talents and some people should not block the opportunities for others, which may come once in a life time. Further, in our country of manifold corruptions and malpractices, indulging in manipulations is unfortunately is a distinct possibility
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