Govt re-nominates four independent directors on central board of RBI

S Marathe, S Gurumurthy, R Iyer, and S Chaturvedi re-nominated to RBI central board

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.

The re-nominations of Gurumurthy and Marathe are for a further period of four years with effect from Thursday or until further orders, the RBI said on its website.

Iyer and Chaturvedi have been re-nominated for a period of four years after the completion of their present tenures on September 18, 2022, the RBI said.

The Centre has also re-appointed Iyer and Chaturvedi as members of the Northern Local Board and the Eastern Local Board, respectively, of the RBI for a period of four years after completion of their present tenures on September 18.

In June, 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.

RBI board members do not engage themselves in monetary policy matters, but provide a broader vision for the central bank.