GOVT APPOINTS RABI SANKAR AS RBI DEPUTY GUV

MUMBAI: The government has appointed RBI executive director T Rabi Sankar as the fourth deputy governor of the central bank.

Sankar fills the vacancy created by the retirement of BP Kanungo on April 2, after completing one-year extension.

The Appointments Committee of the Cabinet on Saturday cleared his appointment for a three-year tenure or till he superannuates, whichever is earlier. The other three deputy governors are Michael D Patra, who heads the monetary policy department; Mukesh Kumar Jain; and Rajeshwar Rao.

His portfolio may include the departments headed by Kanungo, which included fintech, IT, payments system and risk monitoring.