Centre re-nominates 4 independent directors on RBI central board

NEW DELHI: The central government has re-nominated Satish Kashinath Marathe, Swaminathan Gurumurthy, Revathy Iyer, and Sachin Chaturvedi as part-time, non-official directors on the central board of the Reserve Bank of India.

Marathe and Gurumurthy have been re-nominated for a further period of four years with effect from August 11, 2022, or until further orders, whichever is earlier For Iyer and Chaturvedi, re-nominations are for a period of four years after completion of their present tenure on September 18, 2022, or until further orders, whichever is earlier.

Further, Iyer and Chaturvedi have been re-appointed as a Member of the Northern Local Board and on the Eastern Local Board of the Reserve Bank of India for a further period of four years after completion of their present tenure on September 18, 2022, or until further orders.

In June, the government nominated Mahindra and Mahindra group Chairman Anand Mahindra, TVS Motors Chairperson Venu Srinivasan, Zydus Lifesciences' Chairman Pankaj Patel, and Ravindra Dholakia, a former member of the Monetary Policy Committee, as part-time non-official directors on the central board of the RBI.

As per RBI's website, the role of board members is to advise the central Board on local matters and represent the territorial and economic interests of local cooperative and indigenous banks; to perform such other functions as delegated by the central board from time to time.