With these appointments, RBI will now have 18 members on its central board.
With these appointments, RBI will now have 18 members on its central board, including the Governor and four Deputy-Governors.
The Economic Affairs Secretary and Financial Services Secretary of the Finance Ministry are also on the board. Mr. Chaturvedi was also appointed as member of the Eastern local board of RBI with effect from September 19, while Ms. Iyer was appointed to the Northern local board.
The board members are not responsible for setting the interest rate, but will provide a broader guidance to the central bank.