...........But in making one, the RBI must present it transparently and in a manner that explains why the RBI Act must be amended to enable the appointment of a fifth Deputy Governor. Of course, if the appointment of the COO is at the level of an Executive Director, it can arguably be done without statutory changes. But these are matters that require public clarification. Also, it is important to dispel the misimpression that the RBI is batting for the appointment for a specific person rather than for the creation of a post that will strengthen and improve its functioning..........
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