M Rajeshwar Rao – the current Executive Director of the Reserve Bank of India (RBI) has been appointed as the Deputy Governor of RBI.
According to a notification, the Appointment Committee of the Union Cabinet has approved the appointment. Rao will succeed NS Vishwanathan as the fourth Deputy Governor of the central bank.
Rajeshwar Rao's association with the RBI dates back to 1984. He has held various positions including the post of Executive Director of the central bank in 2016.
Currently, he is in charge of the internal debt management, financial markets operations, international and secretarial departments at the central bank. Earlier, he was the Chief General Manager of Financial Markets Operations. He has previously held charge of the risk monitoring department.
He has also worked as the Banking Ombudsman in New Delhi and in the Reserve Bank's regional offices at Ahmedabad, Hyderabad, Chennai and New Delhi.