Gokarn may not get extension as RBI Deputy Governor

.....“The Government has constituted a search panel. Technically speaking, Gokarn’s name can also be considered by the panel,” the source said. Gokarn, who turned 53 last month, took over as the Deputy Governor on November 24, 2009. However, a senior Government official said that normally formation of search panel implies selection of new person. “When the present one has to be given extension or reappointment, where is the need for a panel?” he asked. This can be done just by an administrative order, he informed. This whole episode is taking place at a time when strong differences between the Finance Ministry and the RBI have emerged over rate cuts.........

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