Govt reconstitutes RBI board, inducts 7 new members

The Government has reconstituted theReserve Bank's Central Board by inducting seven new directors, including GMRGroup head GM Rao and former Atomic Energy Commission (AEC) chairman AnilKakodkar.

Dipankar Gupta, former JNU professor, Najeeb Jung, Vice-Chancellor of Jamia Millia Islamia and Ela Bhatt, founder and General Secretaryof non-governmental organisation SEWA have found place on the Board, RBI saidin a release.

The other new directors are Indira Rajaraman, professorEmeritus at National Institute of Public Finance & Policy and Kiran Karnik,former Chairman of NASSCOM.

The seven new directors have been appointed for a period offour years, RBI said, adding that KM Birla, chairman of Aditya Birla Group ofCompanies, Azim Premji, chairman of WIPRO, H P Ranina, Supreme Court Advocateand Lakshmi Chand, former bureaucrat would continue on the Board.

The new induction follows retirement of M M Sharma, SanjayLabroo, Suresh Kumar Neotia, AVaidyanathan, U R Rao and Y H Malegam from RBI 's Central Board.