The Appointment Committee of the Cabinet(ACC) chaired by Prime Minister Narendra Modi has appointed T Rabi Sankar, the Executive Director of Reserve Bank of India(RBI) as the 4th Deputy Governor of RBI. ACC has cleared his appointment for a period of 3 years or till his date of superannuation.
- He succeeds B P Kanungo, who retired on 2nd April 2021 after serving one year extension period.
- He is also incharge of the payments system, fintech, information technology and risk management at the RBI.
RBI cannot hold more than 4 deputy governors.
Other Deputy Governors of RBI:
- Mahesh Kumar Jain
- Michael D Patra
- Rajeshwar Rao
About T Rabi Sankar:
i.T Rabi Sankar joined RBI as a research officer in September 1990.
ii.He has been serving as the Chairman of Indian Financial Technology and Allied Services (IFTAS), a subsidiary of RBI since June 2020.
iii.He has served as the International Monetary Fund (IMF) appointed consultant to the government and central bank of Bangladesh from 2005 to 2011 and supported the development of the bond market and debt management process.
iv.He has served the Ministry of finance on deputation from 2008 to 2014.
Recent Related News:
The Reserve Bank of India (RBI) has appointed an external professional IT firm to carry out a special audit of the entire IT infrastructure of HDFC bank under Section 30 (1-B) of the Banking Regulation Act, 1949. The audit will be conducted at the cost of the bank under Section 30 (1-C) of the Banking Regulation Act, 1949. The name of the IT firm was not disclosed.
About Reserve Bank of India(RBI):
RBI was originally established as a private organisation and was nationalised in 1949.
Established on April 1, 1935
Governor– Shaktikanta Das
Headquarters– Mumbai, Maharashtra