My View on "FINDING A REPLACEMENT FOR CHAKRABARTY":
Reserve Bank of India is one statutory body in the country which has been able to withstand the pangs of succession issues at the top for more than 7 decades of its existence, thanks to the maturity shown by those in charge of governance in Delhi. Recent developments in relation to filling up of top positions in judiciary, executive including those like state governors, statutory bodies and public sector organisations signal the need for transparent and rational succession plans.
Developments like easing out of a Deputy Governor (Subir Gokarn) for no fault of his and a short-lived controversy about selection of a Deputy Governor from inside and the present delay in deciding on filling up of the vacancy caused by Chakrabarty’s resignation brings focus on the need to ensure continuity at the top in organisations like RBI and perhaps a quick review of the selection and placement procedure at higher levels. Perhaps the pool from which selection is made may need some change and the age profile (raising the upper age limit by 3 to 5 years from the present ‘normal’ at 62 years) need a review.
Formulating and implementing succession plans for top government/public sector jobs with professionalism and efficiency in a graceful manner is imperative for allowing the institutions to function with reasonable functional autonomy within the legislative mandates.
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.
- M.G.Warrier
Lord Jagannaath's chariot wheels move very slowly and the Lord for a week from yesterday is in hibernation and would be back by 9th July. Hope the new Dy. Governor's appointment would be announced!!
- Yerram Raju
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