On Tuesday, the central government confirmed appointment of journalist S Gurumurthy and Satish Marathe patron of Sahakar Bharathi as part-time directors on the Reserve Bank of India (RBI) board for a four year term.
The Appointments Committee of the Cabinet on Tuesday appointed journalist S Gurumurthy and Satish Marathe as part-time, non-official directors of the Reserve Bank of India’s central board Satish Marathe – the patron of Sahakar Bharati an NGO furthering the co-operative moment in India. Both the appointments were made after receiving approval from the Cabinet for proposal filed by the department of financial services. The appointment of both part-time directors of the Reserved Bank of India is for a four year term.
S Gurumurthy is the editor of Tamil political weekly Thuglak and the co-convener of RSS affiliate Swadeshi Jagran Manch, whereas, Marathe is owns the NGO and has been actively working in financial and cooperative sector. This is the first time that Gurumurthy has been appointed as RBI director and expressed how he never accepted directorship to ensure he can speak freely as a journalist. However, he accepted RBI directorship since “pressure builds up and wanted to do something for public interest”.
While Marathe holds vast experience in cooperative sector and will possibly help the RBI and its functioning focus on the rural and agricultural sectors. With the appointment of the two new part-time directors, RBI’s board now has 10 government-appointed members for full-fledged functioning as one of the largest and best central banks in the world.