On Monday, T Rabi Sankar took over the responsibility as the new Deputy Governor of the Reserve Bank of India for a period of the next three years. The following information was stated by the central bank, in addition to this, it was also stated that Sankar was an Executive Director of the Reserve Bank of India, before being promoted to the post of Deputy governor.
T Rabi Sankar filled the vacancy which was created following the retirement of BP Kanungo on 2nd April. While the Appointments Committee of the Cabinet cleared Sankar as the new RBI deputy governor on Saturday.
The Appointments Committee of the Cabinet has approved the appointment of T Rabi Sankar, Executive Director, Reserve Bank of India to the post of Deputy Governor, Reserve Bank of India for a period of three years, says an official letter. pic.twitter.com/Qx6xyNzimf
The Appointments Committee of the Cabinet has approved the appointment of T Rabi Sankar, Executive Director, Reserve Bank of India to the post of Deputy Governor, Reserve Bank of India for a period of three years, says an official letter. pic.twitter.com/Qx6xyNzimf— ANI (@ANI) May 1, 2021
The other three deputy governors other than T Rabi Sankar are Michael D Patra, who is the head of the all-important monetary policy department, Mukesh Kumar Jain, who is the commercial banker-turned-central banker, and Rajeshwar Rao.
RBI also stating the information, quoted that, “In pursuance with the Government of India notification dated 3rd May 2021, T Rabi Sakar took over as the Deputy Governor of Reserve Bank of India today for a period of three years or until further orders, whichever is earlier.”
T Rabi Sankar holds a degree in Masters of Philosophy in Economics, from the Jawaharlal Nehru University, New Delhi.
T Rabi Sakar is a career central banker, who has previously worked at various positions at the Reserve Bank of India. While working as an executive director, Rabi Sankar was responsible for the management of the Department of Payment and Settlement Systems, the Department of Information Technology, Fintech, and the Risk Monitoring Department of the RBI.
Sankar’s area of expertise, as stated by RBI includes exchange rate management, reserves portfolio management, public debt management, monetary operations and development, regulation and surveillance of financial markets, payment systems, and IT infrastructure.
Moreover, T Rabi Sankar has also served as an IMF Consultant from 2005 to 2011 on developing government bond markets and debt management. Additionally, he has also served as the Chairman of Indian Financial Technology and Allied Services (IFTAS), Member of Board of Directors of ReBIT, and Member of Governing Council IDRBT, during his professional career at Reserve Bank of India (RBI).