RBI Board Reconstituted – w.e.f 23/09/2011
Reserve Bank of India initially started off as a private
instituition and was nationalised in the year 1949.
To provide general superintendence and direction to the Bank’s
affairs,a Central Board of Directors is consistuted.
The Board is appointed by the Government of India.
The Board of Directos has 20 members ,
5 full time official directors and
15 part-time non-official directors.
Official Directors: –
Full-time : Governor and not more than four Deputy Governors
Non-Official Directors: –
Nominated by Government: ten Directors from various fields
i.e represent the important elements in the economic life of the
one government Official i.e official from the Ministry of Finance.
Others: four Directors – one each from four local boards
The directors are appointed/nominated for a period of four years.
In keeping with the tradtion, The Government of India has
reconstituted the Central Board of Directors of the
Reserve Bank of India.
The RBI Press Release can be accessed @
In a notification issued on Friday, the Government of India
has appointed seven new Directors on the Central Board of the
Reserve Bank for a period of four years from the date indicated.
The new Directors are:
Shri Dipankar Gupta, Sociologist, former Professor,
Jawaharlal Nehru University, New Delhi (w.e.f. September 20, 2011).
Shri Dipankar Gupta, has been honored with the
Malcolm Adiseshiah Award in 2004.
Professor Dipankar Gupta specialises in the incisive inquiries
into the structure of society and social change in India.
Shri Najeeb Jung, Vice Chancellor, Jamia Millia Islamia,
New Delhi (w.e.f. September 22, 2011).
Shri Najeeb Jung, is an ex-civil servant appointed as
the Vice-Chancellor of Jamia Millia Islamia University, in 2009.
He is an internationally known expert on energy and was
pursuing his PhD on energy economics from Oxford University.
Shri G. M. Rao, Chairman,GMR Group, Bengaluru
(w.e.f. September 23,2011).
G M Rao, a mechanical engineer, is the founder Chairman of GMR Group,
the Bangalore based global Infrastructure major.
He spear headed the growth of the GMR business empire starting
from a single jute mill in Rajam in 1978.
He was a major shareholder in India’s leading private sector bank,
ING Vysya Bank Ltd.
GM Rao, usually known as GMR, has rolled out a “Family Constitution” model for his group.
Smt. Ela Bhatt, founder and General Secretary, of SEWA,
the Self-Employed Women’s Association, Ahmedabad (w.e.f. September 23, 2011).
Ela Ramesh Bhatt (born 7 September 1933) is the founder of
the Self-Employed Women’s Association of India (SEWA).
She is a lawyer by training. Intially she was associated
with Gujarat Government.
In 1668, the Textile Labour Association, Ahmedabad,
requested her to head its women’s wing.
This was the turning point in her life, as she could first-hand
observe the working conditions of self-employed women.
In 1972, she launched the SEWA (Self-Employed Women’s Association)
with Arvind Buch, as President and herself as General-Secretary.
Since than, SEWA has come a long way.
Smt. Indira Rajaraman, Professor Emeritus, National Institute of
Public Finance & Policy, New Delhi (w.e.f. September 23, 2011).
A centre for advanced applied research in public finance and
public policy. Established in 1976 as an autonomous society,
the main aim of the institute is to contribute to policy making in
spheres relating to public economics.
It is located near Jawaharal Nehru University, New Delhi
Shri Anil Kakodkar, Former Chairman, Atomic Energy Commission
(Also Chairman, Northern Area Local Board) (w.e.f. September 23, 2011).
Dr. Kakodkar is a champion of India’s self-reliance on Thorium as
a fuel for nuclear energy and is an alumni of the famed
Veeramate Jijabai Technological Institute, (VJTI), Mumbai.
The unique reactor system, devloped under guidance of Dr.Kakodar
is simplified but safe and will generate two third of electricity
Shri Kiran Karnik, Former Chairman, NASSCOM,
(Also, Chairman, Western Area Local Board) (w.e.f. September 23, 2011).
Shri. Kiran Karnik main contribution has been as
President of NASSCOM, where he was the guiding force for Indian IT industry.
Shri.Kiran Karnik also played a major role in the launch
of Discovery Channel in South Asia in 1995 and Animal Planet in 1999