In a rejig of the human resources operations, the Reserve Bank of India (RBI) board on Thursday approved proposals for the creation of an additional position of chief operating officer of the rank of deputy governor to head one of the five functional clusters of the apex bank. “The Board approved the broad contours of the proposals,” the RBI said in a release. “It advised the Reserve Bank to operationalise the restructuring, while taking into account the need to continuously keep communication channels open with stakeholders as the process moves forward,” the RBI added.
The board of the RBI also asked the central bank to initiate dialogue with the government on the additional post of deputy governor and the legislative changes that will be needed. “The proposals essentially revolve around bringing functional synergies in operations by grouping departments into clusters and also leveraging human resources to bring about greater professionalism and specialisation so as to enhance the effectiveness of the Bank’s operations and policy making,” the RBI explained its rationale for creating the new post. Other proposals involve professionalization of human resource functions in the Reserve Bank, including a more effective Performance Management System and responsive and proactive skill and leadership development programmes.