||Committee on Central Board of RBI
- There is no particular checklist the government has to tick in deciding nominations to the Board. Part-time, non-official directors are chosen by the political executive. Given that RBI plays a much larger role than just that of a banking regulator, and that it is an apolitical institution, the government generally avoids appointing individuals with strong ideological or political views to the Central Board.
- The Committee of the Central Board meets every week. Generally, Board members who are in Mumbai attend it. It basically reviews the statistics in RBI’s weekly bulletin. Two key sub-committees that are chaired by the Governor are Board for Financial Supervision (BFS) and Board for Payment and Settlement Systems (BPSS).
|Generally, the government would want the RBI to be sensitised to the views of various stakeholders in the country’s socio-economic landscape such as businesses (within that, manufacturing, infrastructure and services sectors), cooperatives, self-help groups, academicians, economists, etc.
The proposal for appointment to the Central Board is moved by the Department of Financial Services under the Finance Ministry and needs to be approved by the Appointments Committee of the Cabinet.
- Just how much is a kilogram? Over the centuries, it has been defined and redefined, with a standard in place since 1889. Called Le Grand K, a cylinder of platinum-iridium is locked up in a jar at the International Bureau of Weights and Measures (BIPM) in Sèvres, near Paris. For nearly 130 years, the mass of this cylinder has been the international standard for the kilogram.
- Humankind embraced the science of measurement millennia ago, with various civilisations deriving their own units. The Indian measurement of time, for instance, is widely recognised as the oldest in the world.
- Since 1967, the second has been defined as the time it takes for a certain amount of energy to be released as radiation from atoms of Caesium-133. This became the basis of all measures of time, and is used in atomic clocks.