My View on "COO - Interpretation of RBI Act : M. A. Batki":
Legalities apart, if the felt need is ‘to have a fifth Deputy Governor’ to share responsibilities, as finance ministry suggested, the procedures could be followed and the objective can be achieved. After all, there were times when only two DGs were in position. If the purpose is to make one person responsible to ‘coordinate’ four DGs’ work, perhaps that job cannot be delegated beyond a point and Governor will have to continue to do it with ‘secretariat support’. Cutting and pasting concepts like ‘COO’ from companies or central banks elsewhere will add to problems.
- M.G.Warrier
Why not one of the 4 DGs can be redesignated as COO and his existing portfolio can be redistributed among the other 3 DGs? Are the DGs so overburdend that they cannot take on some additional responsibilities and thereby save the botheration and consequent delay in creation of another post of DG?
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