RBI extends deputy governor T Rabi Sankar's term by a year

Reserve Bank of India (RBI) deputy governor T. Rabi Sankar

The Reserve Bank of India (RBI) has extended deputy governor T Rabi Sankar's term by a year, according to people familiar with the development. Sankar was appointed the deputy governor in May 2021 following the retirement of BP Kanungo. Prior to his role as DG, Sankar was one of the executive directors of the RBI.

At RBI, Sankar handles important portfolios such as  department of currency management, external investments and operations, government and bank accounts, Information Technology and Payment and Settlement Systems.

Besides, he also handles foreign exchange department, internal debt management department and right to information. Rabi Sankar is a career central banker who joined the RBI in 1990 and has worked in various positions in the central bank.

In his earlier role as Executive Director, Sankar was looking after the Department of Payment and Settlement Systems, the Department of Information Technology, Fintech and the Risk Monitoring Department in RBI.

Sankar's areas of expertise include exchange rate management, reserves portfolio management, public debt management, monetary operations and development, regulation and surveillance of financial markets, payment systems and IT infrastructure.

Rabi Sankar has served as an IMF Consultant (2005-11) on developing Government bond markets and debt management. He represented RBI on international forums like Bank for International Settlements and various internal and external expert committees and working groups.

In addition to his professional career at RBI, he is Chairman, Indian Financial Technology and Allied Services (IFTAS), member of Board of Directors, ReBIT and member of Governing Council IDRBT. Rabi Sankar has a Master of Philosophy in Economics from the Jawaharlal Nehru University, New Delhi.