The government has extended the term of the Reserve Bank of India Deputy Governor, Anand Sinha, who played a key role in the formulation of guidelines for new bank licences, by about 11 months.
As a Deputy Governor, Dr. Sinha will be instrumental in overseeing the process of grant of new bank licences for which applications from interested corporates and PSUs have been invited till July 1.
“According to a notification issued by the government dated February 25, 2013, Dr. Sinha will continue as the Deputy Governor, Reserve Bank, until January 18, 2014, when he completes the tenure of three years from the date on which he assumed office,,” the central bank said in a statement.
Dr. Sinha, who is in-charge of the Department of Banking Operations and Development, was first appointed as the Deputy Governor of the RBI in January, 2011, for a period up to February 28, 2013.
Besides, he will continue to look after the Department of Non-Banking Supervision and the Urban Banks Department as well as departments of risk monitoring, expenditure and budgetary control and legal.
Dr. Sinha joined the RBI in 1976 after completing his degree from the Indian Institute of Technology, Delhi.