T Rabi Shankar was appointed the chairman of ‘Indian Financial Technology and Allied Services’ last year. This institution is a subsidiary of the Reserve Bank. Prior to this, Shankar has also worked in many institutions internationally.
Reserve Bank of India (RBI)
The central government appointed T Rabi Shankar, the executive director of the Reserve Bank, as the fourth deputy governor of the central bank. Shankar is replacing BP Kanungo who retired as deputy governor on April 2.
Earlier, BP Kanungo got one year service extension. He was supposed to retire last year but the government stopped him for a year. On April 2 this year, he retired and T. Rabi Shankar has been replaced in his place. The appointment committee of the Union Cabinet decided in the name of T. Rabi on Saturday. The tenure of T. Rabi Shankar will be 3 years.
How many deputy governors are there
Apart from T Rabi Shankar, there are three more deputy governors in the reserve. His name is Michael D. Patra who handles the department related to monetary policy, followed by Mukesh Kumar Jain who was the first commercial banker, Rajeshwar Rao is the third deputy governor. Shankar will take care of the departments in the Reserve Bank which are being looked after by Kanungo. This includes fintech, information technology, payment systems and risk monitoring.
When did you join the Reserve Bank?
T. Rabi Shankar has been associated with the Reserve Bank since long. He joined the Reserve Bank of India as a Research Officer in 1990. Shankar is educated from Banaras Hindu University and has obtained masters degree in Science and Statistics from there. His LinkedIn post shows that he has taken a diploma in development planning from the Institute of Economic Growth.
What is experience
T Rabi Shankar was appointed the chairman of ‘Indian Financial Technology and Allied Services’ last year. This institution is a subsidiary of the Reserve Bank. Prior to this, Shankar has also worked in many institutions internationally. He has also been associated with the International Monetary Fund (IMF) in the past. He used to look into the matters related to the bond market in the IMF on behalf of the Government of India. T Rabi Shankar has also worked with the Central Bank of Bangladesh.
Main works of T. Rabi Shankar
T Rabi Shankar has handled many important tasks in the Reserve Bank, including responsibilities such as debt management or debt management. Earlier, Kanungo used to see these works, but now Shankar will be responsible. T. Rabi Shankar is very famous among economists of the country and the world. They keep their original views on any economic issue and base them on the same and move forward. Shankar has worked in many such committees of the Reserve Bank, whose important role has been seen. Such as fund based lending system, hedging of commodity price, commodity spot, derivatives market as well as he has worked in Bank for International Settlement. These works have been related to capital and dollar funding.
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