Anand Sinha, the Deputy Governor of RBI retired

Anand Sinha, the Deputy Governor of the Reserve Bank of India retired on 20 January 2014. His retirement came following his superannuation and his portfolio has been allocated to other three Deputy Governors.

The reallocation was necessitated consequent upon Anand Sinha relinquishing his charge as Deputy Governor. Earlier, Singh was looking after the process of granting new bank licences along with the procedure for granting the licencse to the private sector. The process and procedures of allocation of new licence is incomplete till now.

The reallocation of portfolios following the retirement of Anand Sinha and are

On appointment of the new Deputy Governor, the portfolios will be reallocated.

About Reserve Bank of India and its Central Board
Establishment: The Reserve Bank of India was established on 1 April 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. The Central Office of the Reserve Bank was initially established in Calcutta but was permanently moved to Mumbai in 1937. The Central Office is where the Governor sits and where policies are formulated. Though originally privately owned, since nationalisation in 1949, the Reserve Bank is a fully owned by the Government of India.
•  Central Board: The Reserve Bank's affairs are governed by a central board of directors. The board is appointed by the Government of India in keeping with the Reserve Bank of India Act. Appointed/nominated for a period of four years
• Constitution:
Official Directors
i. Full-time: Governor and not more than four Deputy Governors
Non-Official Directors
i. Nominated by Government: ten Directors from various fields and two government Officials
ii. Others: four Directors - one each from four local boards