Government re-nominates 4 as non-official directors of RBI’s central board, details inside

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 (RBI) on August 12, who will engage themselves in advising the central Board on local matters and represent the territorial and economic interest of local cooperative and indeginious bank. Read below about their time period as the non-official director and their role as one. 

According to the RBI's website, Gurumurthy and Marathe were renominated for a second term of four years beginning on Thursday or until further instructions. 

The re-nomination of Iyer and Chaturvedi are for a period of four years after the completion of their present tenures on September 18, 2022, the RBI said. 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 by the Center.

The government nominated Mahindra & 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, in june.

Roles and responsibilities

As per RBI’s website, RBI board members do not engage themselves in monetary policy matters, but provide a broader vision for the central bank such as advising the central Board on local matters and represent the territorial and economic interest of local cooperative and indeginious bank.

(with inputs from ANI)