The Appointments Committee of the Cabinet (ACC) has given approval for the re-appointment of T Rabi Sankar as the Deputy Governor of the Reserve Bank of India (RBI). This re-appointment is for a period of one year starting from May 3rd of this year. The Department of Personnel & Training issued an order regarding this on Tuesday.
T Rabi Sankar holds a Master of Philosophy degree in Economics from Jawaharlal Nehru University in Delhi. He was initially appointed as the RBI Deputy Governor in May 2021 for a three-year term. Prior to that, he served as an Executive Director at the RBI. During his tenure, Sankar has been responsible for various important areas such as central security cell, currency management, foreign exchange, internal debt management, information technology, payment and settlement systems, external investments and operations, and government and bank accounts.
Apart from RBI Governor Shaktikanta Das, there are four Deputy Governors at the central bank—M.D. Patra, M Rajeshwar Rao, J Swaminathan, and T Rabi Sankar. Earlier this year in January, the tenure of another RBI Deputy Governor, Michael Patra, was extended by the government for an additional year. Patra is in charge of the crucial monetary policy department and is a member of the rate-setting panel.
