Central Board of Directors[edit]

The Central Board of Directors is the main committee of the Central Bank. The Government of

India appoints the directors for a 5-year term. The Board consists of a Governor, and not more than

4 Deputy Governors, 4 [28] Directors to represent the regional boards, 2 from the Ministry of Finance

and 10 other directors from various fields.

The central bank now wants to create a post of Chief Operating Officer(COO) and re-allocate work

between the five of them(4 Deputy Governor and COO).[29][30]

Governors[edit]

The Governor of RESERVE BANK OF INDIA is Raghuram Rajan. There are 4 Deputy Governors,

Deputy Governor H R Khan, Dr Urjit Patel, R Gandhi and S S MUNDRA. Dr. Urjit Patel became

Deputy Governor in January 2013. Two of the four Deputy Governors is traditionally from RBI ranks,

and is selected from the Bank's Executive Directors. As for the rest, one is nominated from among

the Chairpersons of Public Sector Bank, and the other is an economist of repute . It is also often

seen that an officer of Indian Administrative Service is appointed Deputy Governor of RBI and later

as the Governor of RBI. The case of Y. Venugopal Reddy, an officer of Indian Administrative

Service batch of 1964 is a noted example for this trend in the RBI.