The Union government has lately extended the term of Reserve Bank of India’s (RBI’s) Deputy Governor, Mr. M Rajeshwar Rao, for another year from October 9th, 2024. The Appointments Committee of the Cabinet in a notification said that it has approved the re-appointment of Rao for a period of one year, effective October 9th, 2024, or until further orders, whichever ends earlier.
This is his second one-year extension. Previously, his term as Deputy Governor of RBI was extended by the government for one year, with effect from October 9th, 2023. Mr. Rao was initially appointed as RBI Deputy Governor in October 2020 for a three-year term.
Mr. Rao is an economics graduate and a Master of Business Administration from the University of Cochin, who joined the central bank in 1984. As a career central banker, he has exposure to various aspects of the RBI’s functioning.
