The Central government has extended the tenure of M Rajeshwar Rao as Deputy Governor of the Reserve Bank of India (RBI) for one more year, effective from October 9, 2024, or until further orders. This marks his second extension, having first been appointed to the role in September 2020 for a three-year term and receiving a one-year extension in 2023.
Rao’s Experience and Career at RBI
Rajeshwar Rao, who began his career with the RBI in 1984, has held various key positions within the central bank. He has led the Risk Monitoring Department and served as the Banking Ombudsman in New Delhi, in addition to his roles at the RBI’s regional offices in Ahmedabad, Hyderabad, Chennai, and New Delhi.
Rao holds a Bachelor of Arts in Economics and a Master of Business Administration from the University of Cochin. He is also a Certificated Associate of the Indian Institute of Bankers.