The Appointment Committee of the union cabinet appointed T Rabi Sankar, executive director of the Reserve Bank of India (RBI) as the fourth deputy governor of the central bank for the period of three years from the date of joining the position or till he superannuates, whichever is earlier.
Sankar will fill the vacancy of the previous deputy governor BP Kanungo, who retired on April 2, 2021, after the completion of a one-year extension. The other three RBI deputy governors are Michael Patra, Mahesh Kumar Jain, and M. Rajeshwar Rao. Sankar's resume includes his experience with fintech, information technology, payments system, and risk monitoring at RBI.
He had joined the RBI as a research officer in September 1990. Sankar holds a Master's degree in science and statistics from the Banaras Hindu University (BHU) and a diploma in development planning from the Institute of Economic Growth, as per the Linkedin post.
In 2020, he was appointed as the chairman of the Indian Financial Technology and Allied Services, an RBI subsidiary. Before that, he also worked with the International Monetary Fund on bond markets development for the government and also with the central bank of Bangladesh.
(With inputs from news agencies.)