New Delhi: The government has granted a one-year extension to T Rabi Sankar, Deputy Governor of the Reserve Bank of India (RBI).
The decision was made by the Appointments Committee of the Cabinet, setting his re-appointment to take effect from May 3, 2024.
Initially appointed as the RBI Deputy Governor in May 2021 for a three-year term, Sankar's extension comes in recognition of his contributions to the central bank since joining in 1990. Over the years, he has held various positions within the RBI, including that of Executive Director prior to his current role as Deputy Governor.
During his tenure as an executive director, Sankar oversaw multiple departments within the RBI, including the Department of Payment and Settlement Systems, the Department of Information Technology, Fintech, and the Risk Monitoring Department.
Beyond his responsibilities at the RBI, Sankar has also contributed as an IMF Consultant from 2005 to 2011, focusing on developing government bond markets and debt management strategies. His leadership extends to his roles as the Chairman of Indian Financial Technology and Allied Services (IFTAS), a member of the Board of Directors for ReBIT, and a member of the Governing Council at IDRBT.
He holds a Master of Philosophy in Economics from Jawaharlal Nehru University, further bolstering his credentials in the field.