Govt grants one-year extension to RBI Deputy Governor Rajeshwar Rao

NEW DELHI: The government has extended the term of RBI Deputy Governor M Rajeshwar Rao for a period of one year, according to sources. The Appointments Committee of the Cabinet (ACC) has approved the re-appointment of Rao for a period of one year with effect from October 9, 2024 or until further orders, sources said quoting a government order dated October 4.

The ACC is headed by Prime Minister Narendra Modi.

Rao was appointed as RBI Deputy Governor in October 2020 for a period of three years.

Rao was elevated as RBI executive director in November 2016.