RBI Deputy Governor T. Rabi Sankar Got a one-year extension

T. Rabi Sankar, RBI Deputy Governor, has been reappointed for a year by the Appointment Committee of the Cabinet (ACC) with effect from May 3, 2024.

On Tuesday, the Department of Personnel & Training issued an order to this effect.

Sankar was named RBI Deputy Governor in May 2021 for three years. He holds an M.Phil. in Economics from Jawaharlal Nehru University in Delhi. Prior to being promoted to the position of Deputy Governor in May 2021, he served as an Executive Director for the RBI. His responsibilities encompass oversight of various key areas, including the central security cell, currency management, foreign exchange, internal debt management, information technology, payment and settlement systems, external investments and operations, as well as government and bank accounts, among others.

The RBI has four deputy governors: M.D. Patra, M. Rajeshwar Rao, J. Swaminathan, and T. Rabi Sankar, in addition to Governor Shaktikanta Das.

The RBI Deputy Governor Michael Patra’s term was extended by the Centre in January of this year by an additional year, effective January 15. Patra is a member of the rate-setting panel and oversees the crucial monetary policy division.