He pitched for a longer tenure for the central bank head, saying the global practice has to be emulated in India as well.
RBI Governor Raghuram Rajan (Photo: ANI Twitter)
New Delhi: RBI Governor Raghuram Rajan, whose three-year term comes to an end in nine weeks, on Thursdsay pitched for a longer tenure for the central bank head, saying the global practice has to be emulated in India as well.
Mr Rajan, who briefed Parliament’s Standing Committee of Finance on various aspects of economy and NPA in banks, was asked by members on what should be the tenure of the RBI Governor.
He said that a three-year term is “short”. On whether it should be five years, Mr Rajan said that in the US Fed, in addition to serving as Board members, the Chairman and Vice-Chair-man serve terms of four years and be reappointed to those roles who in turn serve until their terms as Governors expire.
( Source : Deccan Chronicle. )
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