Anand Mahindra, Venu Srinivasan, two others inducted in RBI board

Members are not involved in monetary policy, four of them will end their terms in August-September.

The government has nominated Mahindra & Mahindra group chairman Anand Mahindra, TVS Motor chairperson Venu Srinivasan, Zydus Lifesciences’ chairman Pankaj Patel and Ravindra Dholakia, a former professor of Indian Institute of Ahmedabad, as part-time non-official directors on the central board of Reserve Bank of India (RBI).

Dholakia was earlier a member of the six-member monetary policy committee (MPC) of RBI, which sets the interest rate. The appointments are for four years and start today. RBI board members do not engage themselves in monetary policy matters, but provide a broader vision for the central bank.

“The Central Government has