The central government has re-appointed T Rabi Sankar as the RBI’s Deputy Governor for one more year. The official notification from the Secretariat of the Appointments Committee of the Cabinet says that his re-appointment will be effective from May 3.
This is the second extension of T Rabi Shankar as the Deputy Governor of the RBI. He was first appointed as the governor of the Reserve Bank in May 2021 for a period of 3 years. His term was extended for one year in May 2024.
Portfolios managed by T Rabi Sankar
Shankar currently heads 13 departments of the Reserve Bank. He was allocated additional portfolios of financial market regulations and the fintech department in January this year.
He also oversees the department of currency management, the department of external investment and operations, and the foreign exchange department. He was also the key figure in the development of Central Bank Digital Currency.
T Rabi Sankar joined the Reserve Bank in 1990 and has held various key positions over the years. He has served as the Executive Director of RBI, overseeing payments, IT, and risk. He has also worked with the IMF as a consultant. An alumnus of Jawaharlal Nehru University, T Rabi Sankar holds an M.Phil degree in economics.
T Rabi serves the central bank under the leadership of the current governor, Sanjay Malhotra, who was appointed in December last year. Along with the governor, the RBI is headed by 4 deputy governors. Poonam Gupta, Swaminathan Janakiraman, and M Rajeshwar Rao are the other three serving deputy governors of the Reserve Bank.