Urjit Patel stares at half-empty RBI board

Urjit Patel stares at half-empty RBI board: Urjit Patel, the newly appointed governor of the Reserve Bank of India (RBI), faces a problem that doesn’t concern interest rates or the currency and over which he has little control. The central board...

Top empty

This refers to Manojit Saha’s report “Urjit Patel stares at Half-empty RBI board” (The Hindu, September 14). GOI’sapproach to filling top level vacancies gives an impression that those responsible for ‘pushing files’ to ensure timely filling up of vacancies on boards and at the top executive levels are under pressure to delay things.
Political leadership seems to be uncomfortable with strong leadership in statutory bodies and PSUs (including PSBs). The possible reason being the easy manoeuvrability in times of need when there are only those holding ‘additional charge’ or people who want to make sure of their next assignment at the top of important institutions.  Such an approach has destroyed institutions like Unit Trust of India.
Coming to the limited issue of vacancies on the central and local boards of RBI and the unfilled top positions in RBI and PSBs, it is in the national interest to think of a ‘zero
vacancy approach’ for positions of Eds and above. The approach will need a decision to allow incumbent to continue in position till the successor takes  over, except in exceptional situations where a position becomes vacant due to death or punishment. Tenure of all such positions should be made 5 years or above which can be made possible by changing retirement age, where necessary.

G Warrier, Mumbai


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