Rabi Sankar Re-appointed RBI Deputy Governor: Government Grants One-Year Extension

The Appointments Committee of the Cabinet (ACC) has approved the re-appointment of T. Rabi Sankar as Deputy Governor of the Reserve Bank of India (RBI) for a one-year term, effective from May 3, 2024. Sankar, a seasoned central banker with a career spanning over three decades at the RBI, was initially appointed as Deputy Governor on May 3, 2021, for a three-year period.

Appointment Details

The central government has extended Sankar’s term for an additional year, entrusting him with key responsibilities within the RBI. As Deputy Governor, Sankar oversees crucial departments including currency management, government and bank accounts, information technology, external investments and operations, payment and settlement systems, fintech, foreign exchange, and internal debt management.

Professional Background

With an academic background in economics, holding an M Phil from Jawaharlal Nehru University, Sankar brings extensive expertise to his role. Having joined the RBI in 1990, he has held various positions, accumulating vast experience in payments and settlement, financial markets, and public debt management. His areas of specialization encompass exchange rates, reserves portfolio management, monetary operations, and the development, regulation, and surveillance of financial markets.