Rao is presently Executive Director at RBI
The appointments committee of the Cabinet has cleared the name of M Rajeswar Rao for the post of Deputy Governor, Reserve Bank of India (RBI), the government said in a release on October 7.
Rao is presently Executive Director at RBI, the release said.
The deputy governor’s post was lying vacant in RBI since the retirement of N S Vishwanathan, about six months ago.
Rajeshwar Rao is a seasoned central banker. His present responsibilities as executive director include financial markets operation department and international department, internal debt management department.
Prior to taking over as the ED, Rao was serving as the Chief General Manager, Financial Markets Operations Department.
According to RBI website, Rao has a Bachelor of Arts in Economics and a Master of Business Administration from University of Cochin. He is also a Certificated Associate of Indian Institute of Bankers.
Rao joined the Reserve Bank in 1984 and as career central banker has exposure in various aspects of central bank functioning.
Previously, Rao has held charge of the risk monitoring department. He has also worked as the Banking Ombudsman, New Delhi and in the Reserve Bank’s regional offices at Ahmedabad, Hyderabad, Chennai and New Delhi.