Mumbai: The Reserve Bank of India (RBI) has announced a reallocation of responsibilities among its three deputy governors, M Rajeshwar Rao, T Rabi Sankar, and Swaminathan Janakiraman, effective immediately. Each deputy governor has been assigned specific portfolios to ensure the efficient functioning of the central bank across its diverse and critical operations.
M Rajeshwar Rao will oversee 11 portfolios, including Co-ordination Division, Department of Communication, Department of Economic and Policy Research, Department of Regulation, Department of Statistics and Information Management, Enforcement Department, International Department, Artificial Intelligence, Legal Department, Monetary Policy Department, and Risk Monitoring Department.
Rao’s expanded role also includes supervising the Secretary’s Department, emphasizing transparency, policy formulation, and compliance in RBI’s core activities.
T Rabi Sankar has been entrusted with 13 departments, including the Central Security Cell, Department of Currency Management, Department of External Investments and Operations, Department of Government and Bank Accounts, Department of Information Technology, Department of Payment and Settlement Systems, Fintech Department, Financial Markets Operations Department, Financial Markets Regulation Department, Foreign Exchange Department, Human Resource Management Department, Internal Debt Management Department, and the Right to Information (RIA) Division.
Sankar’s portfolio is designed to drive innovation, ensure efficient currency management, and maintain secure transactions domestically and internationally.
Swaminathan Janakiraman will handle nine key areas, including the Consumer Education and Protection Department, Corporate Strategy and Budget Department, Department of Supervision, Deposit Insurance and Credit Guarantee Corporation, Financial Inclusion and Development Department, Financial Stability Department, Inspection Department, Premises Department, and Rajbhasha Department.
His responsibilities highlight the RBI’s focus on consumer protection, financial inclusion, and maintaining a stable banking infrastructure.
This strategic redistribution aligns with the RBI’s mission to bolster its operational efficiency and address critical economic challenges. The move comes amid broader discussions on trade, budgetary expectations, and economic policies impacting key sectors and regions across the country.
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