RBI redistributes deputy governors’ portfolios after Sankar’s appointment

Post T Rabi Sankar’s appointment as deputy governor, the Reserve Bank of India (RBI) has redistributed the portfolios of the deputy governors. Sankar was named the fourth Deputy Governor of the central bank, succeeding B P Kanungo, who retired on April 2 after getting a one-year extension.

Rabi Sankar now joins Mahesh Kumar Jain, Michael Patra, and Rajeshwar Rao as the fourth deputy governor of the central bank.

Sankar has been given portfolios such as the department of currency management, external investments and operations, government and bank accounts, information technology, payment and settlement systems, foreign exchange department, internal debt management, and right to information division.

Sankar was the executive director of prior to being appointed as the deputy governor and was in charge of the payments system, fintech, information technology, and risk management.

As a part of the reshuffle, M K Jain will now be in charge of central security cell, consumer education, department of supervision, financial inclusion and development, human resource, among others.

Michael Debabrata Patra will be heading portfolios such as department of economy and policy research, department of statistics and information management, deposit insurance and credit guarantee corporation, financial markets operation, financial markets regulations, financial stability unit, monetary policy department, and international department.

And, M Rajeshwar Rao will be handling regulation, communication, enforcement, inspection, legal department and risk monitoring department.

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