Bank News – The Central Government has re-appointed Shri T. Rabi Sankar as Deputy Governor of the Reserve Bank of India (RBI) for a one-year term, effective May 3, 2025, or until further orders, whichever is earlier, according to an official announcement. This decision, approved by the Appointments Committee of the Cabinet on April 22, 2025, marks Sankar’s second consecutive extension, reinforcing continuity in the RBI’s senior leadership.
Shri T. Rabi Sankar, who holds a Master of Philosophy in Economics from Jawaharlal Nehru University, Delhi, was first appointed as RBI Deputy Governor in May 2021 for a three-year term, succeeding B.P. Kanungo.
Prior to this, he served as an Executive Director at the RBI, overseeing key departments such as Payment and Settlement Systems, Information Technology, Fintech, and Risk Monitoring.
His current responsibilities include foreign exchange, currency management, government accounts, and internal debt management, among others.
“The Central Government has re-appointed Shri T. Rabi Sankar as Deputy Governor, Reserve Bank of India, for a period of one year with effect from May 3, 2025,” stated Puneet Pancholy, Chief General Manager of the RBI, in an official circular.
This extension follows a similar one-year re-appointment in May 2024, reflecting Sankar’s pivotal role in shaping India’s financial and monetary policies.
The Central Government has re-appointed Shri T. Rabi Sankar as Deputy Governor of the Reserve Bank of India (RBI) for a one-year term, effective May 3, 2025, or until further orders, whichever is earlier.
Sankar, who joined the RBI In 1990, brings over three decades of experience to the role. His expertise spans reserves portfolio management, monetary operations, exchange rate management, public debt management, and payment systems.
Notably, he served as an International Monetary Fund (IMF) consultant from 2005 to 2011, contributing to government bond market development and debt management.
He is also the Chairman of Indian Financial Technology and Allied Services (IFTAS), a member of the Board of Directors of ReBIT, and a member of the Governing Council of the Institute for Development and Research in Banking Technology (IDRBT).
The re-appointment has been widely noted for ensuring stability at the RBI, particularly in areas like financial markets, payment systems, and digital currency initiatives.
Sankar joins fellow Deputy Governors Swaminathan J, M. Rajeshwar Rao, and Dr. M.D. Patra in steering the RBI’s mandate to regulate India’s banking sector, maintain monetary stability, and promote financial inclusion.
The RBI, established under the Reserve Bank of India Act of 1934 and nationalized in 1949, remains fully owned by the Government of India and plays a critical role in the country’s economic framework.
This re-appointment comes at a time when the RBI is navigating complex global economic challenges and advancing initiatives like digital currency and fintech innovation. Sankar’s extensive experience is expected to bolster these efforts, ensuring robust oversight of India’s financial systems.
