M. Rajeshwar Rao's Tenure Extension as RBI Deputy Governor
| Key Points | Details |
|---|---|
| Why in News | M. Rajeshwar Rao's tenure as Deputy Governor of the RBI has been extended by one year, effective from October 9, 2024. Approved by the Appointments Committee of the Cabinet (ACC). |
| Approval Authority | The extension was granted by the ACC, chaired by Prime Minister Narendra Modi, as per the notification issued on October 4, 2024. |
| Initial Appointment | Rao was appointed Deputy Governor in October 2020 for a three-year term. This is his second consecutive one-year extension after the first extension in 2023. |
| Educational Background | Holds a degree in economics and an MBA from the University of Cochin. |
| RBI Experience | Joined RBI in 1984; served in various departments. Appointed Executive Director in November 2016 before becoming Deputy Governor. |
| Key Responsibilities | Oversees critical departments including Regulation, Communication, Enforcement, Legal, and Risk Monitoring Departments. |