Although Satyam Computer Services director, who was one amongst members of the selection committee of Deputy Governor of RBI, has resigned yet the government is soon going to make an appointment for the post.
The government has assigned a Search Committee headed by RBI's governor, D Subbarao to shortlist candidates for the position of Deputy Governor and they are expected to select a person by the end of this month.
Mr M Rammohan Rao, director of Satyam Computer Services resigned from the selection committee following which the government is looking for his replacement to enable the Search Committee to select a desired candidate for the esteemed position.
Rao was the autonomous director on the board of Satyam Computer Services as well as the Dean of the Indian School of Business. The government will now look for his substitute in the selection committee and thereby refer the short-listed names to the Appointments Committee of Cabinet (ACC) headed by Prime Minister Manmohan Singh.
The post of Deputy Governor for which the government has appointed a Search Committee was earlier held by V Leeladhar whose term of service ended last month. He was looking after the banking operations and taking care of supervision in RBI.
Officials claim that his position is soon going to be filled by a deserving candidate. The candidates to be considered for the post by the Search Committee include Bank of India Chairman and Managing Director (CMD) T S Narayansami, Punjab National Bank CMD K C Chakrabarty, Union Bank of India CMD M V Nair and IDBI Bank CMD Yogesh Agrawal.