M.K. Jain appointed RBI Deputy Governor
Mumbai, June 4: Former IDBI Bank MD and Chief Executive M.K Jain was on Monday appointed a new Deputy Governor of the Reserve Bank of India (RBI) for a period of three years, an official statement said.
The appointment was made by the Financial Sector Regulatory Appointment Search Committee, which includes the Reserve Bank of India (RBI) Governor, the Financial Services Secretary, besides other independent members.
The post of one of the Deputy Governors at the Central bank fell vacant after the retirement of S.S. Mundra on July 31, 2017.
Jain has been at his current post at state-run IDBI Bank since April 2017 and has previously served as the Chief Executive of Indian Bank. A career banker, he has also been a member of the Indian Banks' Association Committee on risk management.
The government had advertised for the post of RBI Deputy Governor in January this year and as many as 40 applications had been received in response, according to sources.
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Davangere: Two policemen injured in stone pelting during Ganesha procession
Davangere: Reports state that two groups engaged in stone pelting at each other during Ganesha idol immersion ceremony in Davangere on Thursday. Two police personnel were injured in the incident.
Few days ago, two groups of youth engaged in verbal altercation regarding raising of a flag for Eid Milad celebration. On account of the clashes, police had heightened security for the Ganesha procession. Despite the additional security, stones were pelted at the procession, sources stated. Inspector Gururaj and constable Raghavendra were injured in the incident. The procession continued after the police brought the situation to control. However, the stone pelting resumed once again as the procession surged forwards.
Security has been tightened up in the area and all shops have been closed down by the police. The two police personnel, who were injured in the stone pelting, are undergoing treatment at a hospital.
