NEW DELHI: The government has extended the term of Reserve Bank of India Deputy Governor M Rajeshwar Rao for a period of one year, as per a report.
As per a PTI report citing sources, the Appointments Committee of the Cabinet (ACC) has approved the re-appointment of Rao for a period of one year with effect from October 9, 2024, or until further orders, sources said quoting a government order dated October 4.
The ACC is headed by Prime Minister Narendra Modi. Rao was appointed as RBI Deputy Governor in October 2020 for a period of three years. Rao was elevated as RBI executive director in November 2016.
An economics graduate and a Master of Business Administration from the University of Cochin, Rao joined the central bank in 1984. As a career central banker, he has exposure to various aspects of the RBI’s functioning.