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Amarchand scoops ex-RBI deputy governor Anand Sinha to penetrate financial services sector

Anand Sinha: Finance's inside track
Anand Sinha: Finance's inside track

Former Reserve Bank of India (RBI) deputy governor Anand Sinha joined Amarchand Mangaldas yesterday as senior advisor (financial services) in Mumbai, after his term at the RBI ended in January.

Sinha, who had been with the RBI for 37 years, is understood to have joined Amarchand in a full-time role.

He was not available for comment at the time of going to press.

Amarchand Mumbai managing partner Cyril Shroff commented in an email: “I am convinced that Anand’s joining the firm will be very beneficial for Amarchand & Mangaldas in the way we interact with and service our financial service clients. We all at the firm, are looking forward to us taking our penetration in the financial services sector to a new level.”

At the time of publication, Shroff was not available for further comment on Sinha’s role.

In 2012, Amarchand recruited former SEBI executive director Usha Naryanan as an of counsel in the general corporate and financial regulatory practice after retiring from the regulator.

An IIT Delhi physics degrees holder, Sinha looked after the RBI’s critical portfolios such as banking operations and development, non-banking supervision, urban banking among others and served as the RBI’s nominee director on the boards of SEBI, Dena Bank, Allahabad Bank, Bank of Baroda, Indian Overseas Bank, Deposit Insurance and Credit Guarantee Corporation and Export Credit and Guarantee Corporation.

He represented the RBI in the Basel Committee on Banking and Supervision, on the Committee on Global Financial Systems, and represented India on the G20 working group on enhancing sound regulation and strengthening transparency.

RBI executive director R Gandhi has been named as Sinha’s successor in the position of deputy governor at RBI, reported Mint. He has been appointed for a period of three years.

Out of the four deputy governors that the RBI has at a time, only two – HR Khan and Urjit Patel – remain at the moment as deputy governor KC Chakrabarty resigned last month for personal reasons, added Mint.

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