Apropos the editorial Not the obvious solution (February 25), among other things, it states that ... meanwhile, a Reserve Bank deputy governor on short-term extension has been persuaded to finalise guidelines for the issue of new private bank licences that match the preferences of the finance ministry. According to news reports, he will be rewarded for playing ball with a full years extension. There is no factual basis to the inference drawn. First, there is no deputy governor on a short-term extension as the editorial states. Second, government guidelines for the appointment of deputy governors stipulate that: The deputy governor will be appointed for a period of three years. He/she will be eligible for reappointment. There need not be any mandatory age of superannuation.
The recent notification of Anand Sinhas extension of appointment clearly states: Shri Anand Sinha... appointed as deputy governor, Reserve Bank of India... for a period up to 28.02.2013, is hereby continued as deputy governor, Reserve Bank of India until 18.01.2014 when he completes the tenure of three years from the date on which he assumed office, i.e. 19.01.2011. This makes it clear that the extension of Sinhas appointment is consistent with government guidelines, and there was no special dispensation.
We regret the error in stating that the Reserve Bank of India deputy governor in question was on a short-term extension.
Letters can be mailed, faxed or e-mailed to:
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg
New Delhi 110 002
Fax: (011) 23720201 E-mail: letters@bsmail.in
All letters must have a postal address and telephone number
The recent notification of Anand Sinhas extension of appointment clearly states: Shri Anand Sinha... appointed as deputy governor, Reserve Bank of India... for a period up to 28.02.2013, is hereby continued as deputy governor, Reserve Bank of India until 18.01.2014 when he completes the tenure of three years from the date on which he assumed office, i.e. 19.01.2011. This makes it clear that the extension of Sinhas appointment is consistent with government guidelines, and there was no special dispensation.
Alpana Killawala
Chief General Manager
Department of Communication
Reserve Bank of India, Mumbai
We regret the error in stating that the Reserve Bank of India deputy governor in question was on a short-term extension.
Letters can be mailed, faxed or e-mailed to:
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg
New Delhi 110 002
Fax: (011) 23720201 E-mail: letters@bsmail.in
All letters must have a postal address and telephone number