The Centre has appointed Dilip Shanghvi as Member on the Western Area Local Board of RBI, for a period of four years with effect from March 11, or until further orders, whichever is earlier. Besides the Central Board of Directors, the RBI has four local boards for the western, eastern, northern, and southern areas.
The functions of the local boards include advising the Central Board on local matters and to represent territorial and economic interests of local cooperative and indigenous banks; and to perform such other functions as delegated by Central Board from time to time.
Sun Pharmaceuticals managing director Dilip Shanghvi has been appointed by the central government as a member on the western area local board of Reserve Bank of India. The appointment is for four years with effect from March 11, 2017, the central bank said on its website.
Shanghvi joins Enam Group chairman Vallabh Bhanshali on the western board. Last month the RBI appointed Prasanna Mohanty on the RBI’s southern local board, Vallabh Bhanshali on the western local board and Sunil Mitra on the eastern local board also for four years.