After Raghuraman Rajan’s gloomy announcement of his exit from the post of RBI Governor, there have been names circulating for his successor.
Among them was one name which stood out.
It was Arundhati Bhattacharya, India’s first woman to lead the State Bank Of India. Being the chairman of SBI and having come to successfully complete her tenure of three years, Arundhati was a perfect fit in the race of India’s next RBI governor.
Women all across the sectors had started backing her owing to the credible efforts she had put in introducing a two-year sabbatical policy for women employees. Also, Arundhati was a favorable choice for Indians looking forward to addition of women in policy making of the country.
However, it seems like the only woman contender is out of the race much sooner than we expected.
According to Economic Times, the government is considering a proposal to extend Arundhati Bhattacharya’s term as chairman of State Bank of India by at least a year. From now, the tenure of three years might be extended to five years. In fact, its said that RBI itself has suggested the tenure of SBI chairman to be extended.
Arundhati’s presence in the RBI would have been revolutionary, so the decision of pushing her out of the race, before she could even compete, is sad to say the least.