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M Rajeshwar Rao appointed as Deputy Governor RBI

M Rajeshwar Rao appointed as Deputy Governor RBI
M Rajeshwar Rao As RBI Deputy Governor

The government on Wednesday appointed RBI’s senior-most executive director M Rajeshwar Rao as the deputy governor of the central bank.Rao was appointed to the post vacated by N S Vishwanathan, who stepped down three months ahead of his extended tenure on health grounds.“The Appointments Committee of the Cabinet has approved the appointment of M Rajeshwar Rao, Executive Director, Reserve Bank of India to the post of Deputy Governor Reserve Bank of India,” a notification by the Department of Personnel and Training said.According to the RBI Act, 1934, the central bank needs to have four deputy governors — two from within the ranks, one commercial banker and another an economist to head the monetary policy department.

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