Mankad on RBI board, had been CS when Modi was Gujarat CM
Former Chief Secretary of Gujarat Sudhir Mankad and two others were on Friday appointed as non-official directors to the board of Reserve Bank of India (RBI). The Appointments Committee of the Cabinet (ACC), headed by Prime Minister Narendra Modi, has approved appointment of Mankad as part-time non-official director on the central board of the RBI for a period of four years, an order issued by Department of Personnel and Training (DoPT) said.
Mankad was Chief Secretary from April 2005 to August 2007 when Narendra Modi was the Chief Minister of Gujarat. Besides Mankad, Tata Consultancy Services (TCS) CEO and MD Natarajan Chandrasekaran has also been appointed as part-time non-official director on the RBI board, it said. Bharat Narotam Doshi, non-executive chairman of Mahindra & Mahindra is the third part-time non-official director on the central board of the bank, the DoPT said. Both Chandrasekaran and Doshi will have a tenure of four years, it said.
The Reserve Bank's affairs are governed by a central board of directors. The board is appointed by the government of India. Besides the RBI Governor, there cannot be more than four Deputy Governors as full-time official directors of the central bank.