According to a senior government official the government has shortlisted 4 names for the post of RBI governor to succeed Raghuram Rajan whose term is ending in September this year. The official said, a new Monetary Policy Committee will also be chosen soon.

According to reports, four names included in the list consists three Reserve Bank of India veterans and one is the head of the largest commercial bank of India. The move seems to made to please the investors and shareholders as it was being said that Rajan’s leave could damage the market.

The four members includes, Urjit Patel, current RBI Deputy Governor, former deputy governors Rakesh Patel and Subir Gokarn and State Bank of India chairman Arundhati Bhattacharya.

Another official at PM Modi’s office said that Rajan is expected to join the search committee for the selection of three external members for new sis-member Monitory Policy Meeting. Both the officials, keeping in mind the sensitivity if the matter, on condition of anonymity said that the main objective is to select MPC members before the appointment of the new governor.

An official said, “We are very hopeful that the present governor will be a member of this search committee.” He also added that if all goes well the new panel will be selected by August 1.

Read Also: RBI Governor Raghuram Rajan Responded To His Critics on Fighting Inflation

By Prajakt K.