RBI appoints R Lakshmi Kanth Rao as new Executive Director

Reserve Bank of India

The Reserve Bank of India (RBI) has appointed R. Lakshmi Kanth Rao as Executive Director (ED) with effect from May 10, 2024.

Prior to being promoted as ED, Rao was serving as Chief General Manager-in-Charge in the Department of Regulation, the central bank said in a statement.

As Executive Director, Rao will look after Deposit lnsurance and Credit Guarantee Corporation, Right to lnformation Act (FAA), Department of Communication, RBI added.

Rao has experience of over three decades in the Reserve Bank having worked in the areas of Regulation of Banks and NBFCs, Supervision of Banks and Consumer Protection. He had served as Banking Ombudsman at RBI Chennai and as Regional Director of Uttar Pradesh at Lucknow. He has also served as a member of several Committees and Working Groups and has been contributing to policy formulation.

Mentioning his educational qualifications, RBI said that Rao is a graduate in commerce. He holds a master’s degree in Business Administration (Finance) from Sri Venkateswara University, Tirupati and Diploma in TIRM (IIBF). He is also a Certified Associate of IIBF.