The RBI governor Raghuram Rajan has decided to restructure the apex bank. The exercise will involve dividing responsibilities of deputy governors into four groups.
Separation of supervisory and regulatory functions will be the main feature of the re-organization plan but merger of some departments will be another key element in the process. However, no departments will be dispensed with, say sources close to the RBI.
It is significant that deputy governor S.S. Mundra will be assigned the task of overseeing cooperative banks.
However, experts point out a missing piece in the exercise and this is the chief operating officer — which entails appointment of a fifth deputy governor by the government through an amendment of the RBI Act.
Recently in an interview with a Delhi newspaper the RBI governor said: “Our aim is to identify strengths and weaknesses. Plug weaknesses, and in a very small way bring in new talent. But we want to keep it minimal because this is a home-grown organization and we want to keep it that way for the most part.
