Chairman and MD of Bank of Baroda, SS Mundra, is likely to be named as one of RBI’s deputy governors in place of KC Chakrabarty who quit last month.
Other public sector bank CMDs who were in the fray included KR Kamath of Punjab National Bank, Arun Kaul of UCO Bank, M Narendra of Indian Overseas Bank, TM Bhasin of Indian Bank, Canara Bank head RK Dubey, Vijayalakshmi Iyer of the Bank of India and Ashwani Kumar of Dena Bank, official sources told FE. Mundra’s name was picked by the RBI selection panel that has governor Raghuram Rajan, former financial services secretary Rajiv Takru, an IIM official and secretary, department of personnel and training.
The panel, which last week interviewed the candidates, recommended Mundra’s name to finance minister P Chidambaram, sources said.The final decision will be taken by the appointments committee of Cabinet on the basis of FM’s recommendation, they said. Though the RBI had favoured relaxation in the eligibility criteria to include private sector bankers as well, the government was not open to the idea, the sources said.
