Government extends RBI Deputy Governor Sankar's tenure by a year

RBI Deputy to stay:  government has granted a one-year extension to Reserve Bank Deputy Governor T Rabi Sankar, according to a RBI release. extended tenure will now run until May 2025, with extension taking effect from May 3, 2024. Rabi Sankar oversees foreign exchange, currency, and fintech departments at central bank.

Sankar has extensive experience spanning several critical functions within central banking. His journey began in September 1990 when he joined Reserve Bank of India (RBI) as a research officer. 

Sankar holds an M Phil (Master of Philosophy) in economics from Jawaharlal Nehru University and assumed role of Deputy Governor at Reserve Bank of India in May 2021. Before he was appointed as Deputy Governor, Sankar served as an Executive Director at Reserve Bank of India. 

Sankar also holds a master's degree in Science and Statistics from Banaras Hindu University, complemented by a diploma in Development Planning from prestigious Institute of Economic Growth.

In 2020, Sankar assumed role of Chairman at Indian Financial Technology & Allied Services (IFTAS), a vital subsidiary wholly owned by RBI. Furrmore, Sankar's professional trajectory includes impactful collaborations with esteemed institutions such as International Monetary Fund (IMF). His work with IMF focused on improving bond market development for both central bank and government entities of Banglesh.

Sankar's expertise includes a wide array of domains, including exchange rate management, reserves portfolio management, public debt management, monetary operations, and development, regulation, and surveillance of financial markets. His multifaceted skill set positions him as a key asset in navigating complexities of central banking and continuing financial stability and growth.