Upon the retirement of BP Kanungo in May 2021, the Government of India has appointed T. Rabi Sankar as Deputy Governor of the Reserve Bank of India (RBI) for a term of three years or until further orders, whichever is earlier. Before being promoted to the post of Deputy Governor, Rabi Shankar was the Executive Director of the Reserve Bank of India.
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| T. Rabi Sankar re-appointed as RBI Deputy Governor |
T. Rabi Sankar re-appointed as RBI Deputy Governor for One Year
The Central Government has re-appointed T. Rabi Sankar as Deputy Governor, Reserve Bank of India for a period of one year with effect from May 03, 2024, or until further orders, whichever is earlier.
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Rabi Shankar was appointed Deputy Governor by the Government of India in May 2021 after the retirement of Bibhu Prasad Kanungo. Earlier, he was serving as the Executive Director of RBI.
About T. Rabi Sankar Deputy Governor of RBI
T. Rabi Shankar started his banking career by joining the bank in 1990. He has worked in various positions in the Reserve Bank of India.
As Executive Director, he was looking after the Department of Payment and Settlement Systems, the Department of Information Technology, Fintech and the Risk Monitoring Department in RBI.
His areas of expertise include exchange rate management, reserves portfolio management, public debt management, monetary operations and development, regulation and surveillance of financial markets, payment systems and IT infrastructure.
T. Rabi Sankar has served as an IMF Consultant (2005-11) on developing Government bond markets and debt management.
He represented RBI on international forums like Bank for International Settlements and various internal and external expert committees and working groups.
T. Rabi Sankar: Educational Life
T. Rabi Sankar has a Master of Philosophy in Economics from the Jawaharlal Nehru University, New Delhi.
Reserve Bank of India (RBI)
The Reserve Bank of India was established on April 1, 1935 according to the provisions of the Reserve Bank of India Act, 1934. The headquarters of the Reserve Bank was initially established in Kolkata but was permanently moved to Mumbai in 1937.
Initially the bank was privately owned, but since nationalization in 1949 it is fully owned by the Government of India.
Governor of RBI
The current Governor of the Reserve Bank of India is Shaktikanta Das. He replaced Urjit Patel as the governor.
Deputy Governor of RBI
The 4 Deputy Governors are appointed in the Reserve Bank of India (RBI), who are as follows.
- M.D. Patra
- M. Rajeshwar Rao
- T. Rabi Sankar
- Swaminathan J
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Important facts for upcoming exams from the above Current Affairs Topic
- Establishment of RBI: 1 April 1935
- Headquarters of RBI: Mumbai, Maharashtra, India
- Governor of RBI: Shaktikanta Das
- Deputy Governor of RBI: Swaminathan J, M. D. Patra, M. Rajeshwar Rao and T. Rabi Sankar
- Ownership of RBI: Ministry of Finance , Government of India
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