The Finance Ministry has asked the Reserve Bank of India’s Deputy Governor Subir Gokarn to continue till December 31. His three-year term was scheduled to end on November 23. The Financial Services Secretary D. K. Mittal announced his extension saying that there should not be vacancy. A search committee has been constituted to advise whether Gokarn will get another two-year term or there will be a new Deputy Governor.............
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When will we learn to do things like implementing succession plans for top government/public sector jobs with professionalism and efficiency in a graceful manner?
We all talk highly about the virtues of private sector, but do we really allow public sector imbibe its good features? This is a rarity. How else can one explain the difference in the selection procedures of successors for Ratan Tata and N R Narayana Murthy and those for finding CEOs and top managers of public sector organizations? Another point is that
it will be next to impossible to attract talent to these government positions, given the meager remuneration offered. It is time to revise this factoring in market realities. The present practice has resulted in compromises on quality and the nation can ill-afford this state of affairs.
It suits an unstable government to have ‘yours obediently’ people who have no other place to go or those who find such postings as stepping stones for career opportunities abroad, at the top of institutions, which, of late, are not dancing to its tunes.
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