Reserve Bank of India (RBI) executive director T Rabi Sankar has been named as the fourth Deputy Governor of the central bank. The Appointments Committee of the Cabinet has approved his appointment. He is in charge of the payments system, fintech, information technology and risk management at the RBI. He succeeds BP Kanungo as the deputy governor, who retired on April 2 after getting a one-year extension in his position.
Sankar has long experience across a wide spectrum of central banking functions, particularly, exchange rate management, reserves portfolio management, public debt management, monetary operations, development, regulation and surveillance of financial markets and of payment systems, and managing the Bank’s IT infrastructure.