The government has re-appointed RBI Deputy Governor M. Rajeshwar Rao for another year, with his extended term set to conclude on October 8, 2025. The Appointments Committee of the Cabinet (ACC), chaired by Prime Minister Narendra Modi, approved Mr. Rao’s re-appointment, effective from October 9, 2024, or until further orders. The decision was formalized through a government order dated October 4.
Mr. Rao, who has been serving as RBI Deputy Governor since October 2020, was initially appointed for a three-year term. Prior to this role, he was elevated to RBI Executive Director in November 2016.
A seasoned central banker with a career spanning several decades, Mr. Rao has expertise across multiple departments of the RBI, including the Risk Monitoring Department. He holds an economics degree and an MBA from the University of Cochin and joined the RBI in 1984.
