Dr Arunish Chawla likely to be RBI Dy Governor

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New Delhi: 1992-batch Bihar cadre IAS officer Dr Arunish Chawala is likely to be appointed Deputy Governor of the Reserve Bank of India (RBI).

A search panel headed by Cabinet Secretary Rajiv Gauba is said to have interviewed at least 10 candidates for this post, lying vacant since resignation of Viral Acharya. The Reserve Bank has four deputy governors.

Currently, Arunish Chawla is working as Minister at the Indian Embassy’s economic wing in Washington.

A London School of Economics (LSE) graduate, he also holds a doctorate degree from the same institute. He has also served at the Ministry of Finance at the Centre and in his parent Bihar cadre.

India’s Executive Director at the Asian Development Bank (ADB) Kshatrapati Shivaji is also said to be in the running for the post.

Acharya resigned six months before the scheduled end of his term. Acharya gave his resignation in June. A New York University – Stern School of Business professor Acharya was looking after the Monetary Policy Department, including its forecasting and modelling unit, in the RBI.

Apart from the Cabinet Secretary, the Financial Sector Regulatory Appointment Search Committee (FSRASC) includes the RBI Governor, Financial Services Secretary and other independent members.

The Finance Ministry, in September, received about 100 applications for the post but shortlisted about seven names who were called for the interview on November 7.

According to a public notice, the appointment will be for a period of three years and the person will be eligible for re-appointment. At present, there are three deputy governors — N S Vishwanathan, B P Kanungo and M K Jain.

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