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 forward of his prolonged tenure on well being 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 mentioned. The RBI wants 4 Deputy Governors: two from throughout the ranks, a industrial banker and an economist to go the financial coverage division.