Mumbai: The government has appointed T Rabi Sankar, executive director of the RBI, as the fourth deputy governor of the central bank. Sankar fills the vacancy created by the retirement of BP Kanungo on April 2, after completing one year.
The Cabinet Appointments Committee on Saturday approved his appointment for a period of three years or until he or she fulfills his or her term of office, whichever is earlier. The other three deputy governors are Michael D Patra, who heads the all-important Monetary Policy Division; Mukesh Kumar Jain, the commercial banker who became the central banker; and Rajeshwar Rao.
Sankar’s portfolio may include Kanungo – led departments, which include fintech, information technology, payment system and risk monitoring. He joined the central bank in September 1990 as a research officer. Sankar holds a master’s degree in science and statistics from Banaras Hindu University and a diploma in development planning from the Institute for Economic Growth, according to a LinkedIn post.
Last year, Sankar was appointed chairman of Indian Financial Technology and Allied Services, a subsidiary of RBI. Prior to that, he also worked with the International Monetary Fund on the development of government bond markets and also with the central bank of Bangladesh.
Source: Telangana Today