Shri M. Rajeshwar Rao appointed as RBI Deputy Governor

Shri M. Rajeshwar Rao appointed as RBI Deputy Governor

Newly-appointed Reserve Bank of India (RBI) deputy governor M Rajeshwar Rao will be handling effectively the same departments that his predecessor N S Vishwanathan used to look after.

He took over as the Deputy Governor of Reserve Bank of India on October 9, 2020 for a period of three years or until further orders, whichever is earlier.

Shri Rao was Executive Director of the Reserve Bank before being elevated to the post of Deputy Governor.

He has also worked as the Banking Ombudsman, New Delhi. 

Deputy governor, Rao will be in looking after six departments: Department of Regulation, Department of Communication, Enforcement Department, Inspection Department, Legal Department and Risk Monitoring Department.

Appointments Committee of the Cabinet had approved the appointment of Rao, Executive Director, RBI, to the post of Deputy Governor on October 7.

Following the elevation of Rao, the RBI now has four Deputy Governors. The other three Deputy Governors are – BP Kanungo, MK Jain and MD Patra