M Rajeshwar Rao Re-Appointed As RBI Deputy Governor

The Central Government has re-appointed M. Rajeshwar Rao as Deputy Governor, Reserve Bank of India (RBI) for a period of one year. The extension will start with effect from October 09, 2023, or until further orders, whichever is earlier, a statement from the RBI said.

Before being appointed as the deputy governor, Mr Rao was executive director of the central bank. As Executive Director, Rajeshwar Rao looked after Department of Statistics and Information Management, Financial Markets Operation Department and International Department.

Prior to taking over as the Executive Director Mr Rao was the Chief General Manager, Financial Markets Operations Department.

Mr Rao has a Bachelor of Arts in Economics and a Master of Business Administration from University of Cochin. He is also a Certificated Associate of Indian Institute of Bankers.

Mr Rao joined the Reserve Bank in 1984 and as career central banker has exposure in various aspects of central bank functioning. He has previously held charge of the Risk Monitoring Department. He has also worked as the Banking Ombudsman, New Delhi and in the Reserve Bank’s regional offices at Ahmedabad, Hyderabad, Chennai and New Delhi.