Deputy Governor of the Reserve Bank of India

The Deputy Governor of RBI is appointed by the Government of India under the provisions of the Reserve Bank of India Act, 1934. The appointment is made by the Appointments Committee of the Cabinet (ACC), headed by the Prime Minister and the Home Minister. Typically, the Deputy Governor is appointed for a term of up to five years, which may be extended or renewed for a second term. == Duties and Responsibilities of the Deputy Governor ==

The Deputy Governors of the Reserve Bank of India assist the Governor in managing the central bank’s overall functions and policy implementation. Each Deputy Governor is assigned specific portfolios such as monetary policy, banking regulation and supervision, financial markets, or currency management. They help formulate and execute decisions taken by the Monetary Policy Committee and the Central Board of Directors. They also oversee key operational departments and ensure effective regulation of banks and non-banking financial institutions. In addition, Deputy Governors represent the RBI in national and international forums when required and contribute to maintaining financial stability, smooth payment systems, and implementation of regulatory frameworks. == Emolument, accommodation and perquisites ==

The rank of the RBI Deputy Governor is equivalent to the Secretary as per pay-level. The post is accompanied by: • Official residence in Mumbai, Maharashtra, a Type-VII / VIII bungalow. • Security cover as per central government rules. • Eligibility for a diplomatic or official passport for foreign travel. • Salary as per Pay Level 17 of the 7th Pay Commission. Although the Dearness allowance (DA), Travel Allowance (TA) and other allowances are determined by the RBI. == List of deputy governors ==