The Centre on Wednesday appointed RBI’s senior-most Executive Director M. Rajeshwar Rao as Deputy Governor.
He succeeds N.S. Vishwanathan, who stepped down in March, 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, [RBI] to the post of Deputy Governor Reserve Bank of India,” a notification by the Department of Personnel and Training said. The RBI needs four Deputy Governors: two from within the ranks, a commercial banker and an economist to head the monetary policy department.