RBI Deputy Governor Sinha gets nearly 11-month extension
The government has extended term of RBI Deputy Governor Anand Sinha, who played key role in formulation of guidelines for new bank licences, by about 11 months. As a Deputy Governor, Sinha will be intrumental in overseeing the process of grant of new bank licences for which applications from interested corporates and PSUs have been invited till July 1, 2013. The RBI is expected to give licences to new banks by the end of March 2014. "According to a notification issued by the Government of India dated February 25, 2013, Sinha will continue as the Deputy Governor, Reserve Bank until January 18, 2014 when he completes the tenure of three years from the date on which he assumed office, that is, January 19, 2011," the central bank said in a statement. ............
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