April 24th 2024.
The recent announcement from the central bank states that the government has decided to extend the term of T Rabi Sankar, the current Deputy Governor of Reserve Bank of India, for another year. The re-appointment will come into effect from May 03, 2024, or until further notice, whichever comes first. This decision has been taken by the Central Government, as per the statement released by the RBI.
Sankar, who took on the role of Deputy Governor in May 2021, had initially been appointed for a three-year term. With this new development, he will now serve for a total of four years in this position. Sankar has had a long-standing association with the RBI, having joined the organization in 1990. He has held various roles and responsibilities, showcasing his expertise and dedication to the field of finance.
Before being promoted to the position of Deputy Governor, Sankar was serving as the Executive Director at RBI. In this role, he was responsible for overseeing the functions of the Department of Payment and Settlement Systems, the Department of Information Technology, Fintech, and the Risk Monitoring Department. With his vast knowledge and experience, Sankar has been instrumental in shaping the growth and development of these crucial departments.
Apart from his achievements at RBI, Sankar has also been associated with the International Monetary Fund (IMF) as a consultant. He has worked on various projects related to the development of government bond markets and debt management. In addition to his professional commitments, Sankar also holds important positions in other organizations such as Chairman of Indian Financial Technology and Allied Services, member of the Board of Directors at ReBIT, and member of the Governing Council at IDRBT.
Sankar's academic qualifications are also noteworthy, with a Master of Philosophy in Economics from Jawaharlal Nehru University. His vast knowledge and experience make him a valuable asset to the RBI and the Indian finance sector. The extension of his term as Deputy Governor is a testament to his capabilities and contributions. This decision will further strengthen the leadership at RBI and help in achieving the organization's goals and objectives.
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