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The Reserve Bank of India Act needs to be amended to bring in the post of a Chief Operating Officer (COO), the Finance Ministry clarified on Wednesday.
Reacting to the reports that RBI is looking to establish a position of a COO at the banking regulator, G S Sandhu, Secretary, Ministry of Finance, said: “The appointment cannot happen as the (RBI) Act has to be amended first.
“That level is not possible. There is clarity on that and there is no ambiguity and therefore no issues,” Sandhu said on the sidelines of a National Real Estate Development Council (NAREDCO) conclave in Mumbai.
The RBI Governor, Raghuram Rajan, is seeking to make structural changes at the central bank by appointing a COO, a position with Deputy Governor ranking at RBI.
Reports were doing the rounds that some RBI employees have written to board members opposing lateral hiring at RBI.
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