RBI Appoints M. Rajeshwar Rao to Oversee Monetary Policy and Economic Research Departments
| Key Points | Details |
|---|---|
| Why in News | M. Rajeshwar Rao, RBI Deputy Governor, assigned to lead the Monetary Policy and Economic Research Departments following Michael Patra's term ending on January 15, 2025. |
| New Role | M. Rajeshwar Rao will oversee the Monetary Policy and Economic Research Departments temporarily. |
| Previous Holder | Michael Patra, served as Deputy Governor since 2020, concluded his tenure on January 15, 2025. |
| Rao's Tenure Extension | Rao's tenure was extended for one year in October 2024 by the Indian government. |
| Rao's Experience | Over 40 years with the RBI, managing Regulation, Risk Monitoring, Communication, and Enforcement. |
| RBI Headquarters | Mumbai, Maharashtra |
| RBI Governor | Sanjay Malhotra |
| RBI Founded | April 1, 1935, under the Reserve Bank of India Act, 1934 |
| Deputy Governors | Four Deputy Governors, including M. Rajeshwar Rao and T. Rabi Sankar |