RBI appoints RLK Rao as ED

Mumbai: The Reserve Bank of India (RBI) has appointed R. Lakshmi Kanth Rao as an Executive Director, the central bank has announced.

Rao’s appointment is with effect from May 10.

Rao will look after Deposit lnsurance and Credit Guarantee Corporation (DICGC), Right to lnformation Act (FAA) and the Department of Communication, the RBI has said in a press release.

The DICGC was set up under the purview of the RBI for the purpose of insurance of deposits and guaranteeing of credit facilities.
Prior to being promoted as ED, Rao was served as Chief General Manager-in-Charge in the Department of Regulation.
Rao has experience of over three decades at 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.

A graduate in commerce, Rao 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.

From May 3, T. Rabi Sankar was also re-appointed as the RBI Deputy Governor.

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