Embattled Arjuna Mahendran due to chair his last MB meeting on Friday

Embattled Central Bank Governor Arjuna Mahendran will on Friday June 24 chair his last meeting of the Monetary Board before his term of office offcially ends on June 30.
In a statement on Monday, the bank said that the Monetary Policy Review will be announced at 6 pm on Friday. Such announcements are normally taken after the board meets. The board has been functioning minus one member – retired Deputy Secretary to the Treasury R.A. Jayatissa who stepped down on an earlier occasion.
The board has maintained interest rates unchanged for many months now. While the issue of the re-appointment of Mr. Mahendran for a further 6-year term has drawn hordes of protest from civil society and professionals, a fresh petition was filed in the Appeal Court on Monday by governance activists seeking a declaration that Mr. Mahendran is unfit to hold the post. 
Last Friday, Indian news reports said the country’s Central Bank Governor (RBI chief) – under fire from the main ruling party - was stepping down in September.  – ENDS -