T Rabi Sankar Gets One-Year Extension as RBI Deputy Governor.
Appointment
In April 2025, the Appointments Committee of the Cabinet (ACC), chaired by Prime Minister Narendra Modi, approved the reappointment of T. Rabi Sankar as Deputy Governor of the Reserve Bank of India (RBI) for a one-year term. The extension will commence on May 3, 2025, or until further orders, whichever is earlier.
- This marks his second consecutive one-year extension since his initial appointment in May 2021, following the retirement of former Deputy Governor B.P. Kanungo.
- As of April 2025, T. Rabi Sankar continues to oversee several crucial departments within the Reserve Bank of India (RBI), including the Foreign Exchange Department, Currency Management, and the Government Accounts Department. These roles place him at the center of key financial and monetary operations of the central bank.
- Before his appointment as Deputy Governor in May 2021, T. Rabi Sankar served as an Executive Director (ED) at the RBI. Additionally, between 2005 and 2011, he worked as a consultant with the International Monetary Fund (IMF), where he contributed to the development of government bond markets and debt management systems in emerging economies.
Main Point :- (i) Beyond T Rabi Sankar core responsibilities at the RBI, Rabi Sankar also holds several leadership positions in affiliated institutions. He serves as the Chairman of Indian Financial Technology and Allied Services (IFTAS), is a Board Member of Reserve Bank Information Technology Pvt Ltd (ReBIT), and sits on the Governing Council of the Institute for Development and Research in Banking Technology (IDRBT).
(ii) As of April 2025, the Reserve Bank of India is led by four Deputy Governors: T. Rabi Sankar, M. Rajeshwar Rao, Swaminathan Janakiraman, and Poonam Gupta. Each plays a pivotal role in shaping the monetary policy and operational strategy of India's central banking system.
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