Recently, R. Lakshmi Kanth Rao has been appointed as the new Executive Director of the Reserve Bank of India (RBI). Rao has over three decades of experience in the Reserve Bank, having served as Banking Ombudsman at RBI Chennai and Regional Director for Uttar Pradesh at Lucknow.
 |
| RBI appoints Lakshmi Kanth Rao as new Executive Director |
R. Lakshmi Kanth Rao Appointed as new Executive Director of RBI
The Reserve Bank of India (RBI) has appointed R. Lakshmi Kanth Rao as Executive Director (ED) with effect from May 10, 2024.
Prior to being promoted as Executive Director of RBI, Lakshmi Kanth Rao was serving as Chief General Manager-in-Charge in the Department of Regulation.
Read Also: T. Rabi Sankar re-appointed as RBI Deputy Governor
About Lakshmi Kanth Rao
Lakshmi Kanth Rao has experience of over three decades in the Reserve Bank having worked in the areas of Regulation of Banks and NBFCs, Supervision of Banks and Consumer Protection.
Read Also: RBI appoints Neeraj Nigam as new Executive Director | Daily Current Affairs Dose
He had served as Banking Ombudsman at RBI Chennai and as Regional Director of Uttar Pradesh at Lucknow. He has also served as a member of several Committees and Working Groups and has been contributing to policy formulation.
RBI Executive Director: Role and Responsibilities
As Executive Director, Rao will assume the following roles and responsibilities:
- Deposit lnsurance and Credit Guarantee Corporation
- Right to lnformation Act (FAA)
- Department of Communication
R. Lakshmi Kanth Rao: Educational Life
R. Lakshmi Kanth Rao is a graduate in commerce. He holds a master’s degree in Business Administration (Finance) from Sri Venkateswara University, Tirupati and Diploma in TIRM (IIBF). He is also a Certified Associate of IIBF.
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
Read Also: RBI appoints Ajay Kumar Choudhary as new Executive Director | Daily Current Affairs Dose
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
0 Comments