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

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

Sankar has extensive experience spanning several critical functions within central banking. His journey began in September 1990 when he joined the 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 the role of Deputy Governor at the Reserve Bank of India in May 2021. Before he was appointed as the Deputy Governor, Sankar served as an Executive Director at the 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 the prestigious Institute of Economic Growth.

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

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