BANKING AFFAIRS

Detailed explanation-1: -The Governor of the Reserve Bank of India (RBI) is appointed by the Central Government.

Detailed explanation-2: -Who appointed the RBI governor? RBI governor appointed Under Section 8 of the RBI Act 1934, the central government has the power to appoint Governors and Deputy Governors to the Reserve Bank of India. Recently, Shaktikanta Das has been appointed the Governor of RBI for a period of three years.

Detailed explanation-3: -The Reserve Bank of India (RBI) on Tuesday announced that the government has nominated Vivek Joshi to its central board. Joshi who is the secretary of the Department of Financial Services, will hold the position of Director at RBI. The nomination has come into effect from November 15, 2022, until further orders.

Detailed explanation-4: -The board has 15 seats, of which five are official directors and 10 are non-official directors. RBI governor Shaktikanta Das, also the chief executive of the board, and deputy governors Mahesh Kumar Jain, MD Patra, M Rajeshwar Rao and T Rabi Sankar are the official directors.

Detailed explanation-5: -Section 8(1)(a) of the Reserve Bank of India Act, 1934, provides that there shall be one Governor and not more than four Deputy Governors to be appointed by the central government on the central board of RBI.