New Delhi: The central government has extended the tenure of T Rabi Sankar as Deputy Governor of the Reserve Bank of India (RBI) by one year. According to an official notification from the Secretariat of the Appointments Committee of the Cabinet, the re-appointment will take effect from May 3, 2025.
This marks the second extension for Sankar, who was originally appointed as Deputy Governor in May 2021 for a three-year term. His first extension was granted in May 2024.
Sankar currently oversees 13 departments at the RBI, including financial market regulation and the fintech department, which were added to his portfolio earlier this year. He also heads the departments of currency management, foreign exchange, and external investment and operations. He has played a leading role in the development of India’s Central Bank Digital Currency (CBDC).
An RBI veteran, T Rabi Sankar joined the central bank in 1990 and has held several senior positions, including Executive Director responsible for payments systems, information technology, and risk management. He has also served as a consultant to the International Monetary Fund (IMF). Sankar holds an M.Phil in economics from Jawaharlal Nehru University.
He continues to serve under RBI Governor Sanjay Malhotra, who took office in December 2024. The RBI currently has four Deputy Governors: T Rabi Sankar, Poonam Gupta, Swaminathan Janakiraman, and M Rajeshwar Rao.
BI Bureau
