RBI Deputy Governor M Rajeshwar Rao's Tenure Extended By Another Year

The Union government has reappointed M. Rajeshwar Rao as the Reserve Bank of India's deputy governor for another year, with effect from Oct. 9, the central bank said on Tuesday.

Rao, who was appointed deputy governor in October 2020 for three years, had joined the RBI in 1984. He has headed the risk monitoring department and worked as the banking ombudsman. He has also held positions at the RBI's regional offices in Ahmedabad, Hyderabad, Chennai, and New Delhi.

Before serving as deputy governor, he had been the executive director of the central bank since 2016.

Currently, the RBI's department of regulation, department of communication, enforcement department, legal department, and risk monitoring department are under his leadership.