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The Appointments Committee of the Cabinet (ACC) has approved the appointment of M Rajeshwar Rao as Deputy Governor of the Reserve Bank of India (RBI).
Rao is currently Executive Director overseeing four departments -- Internal Debt Management Department, Secretary’s Department, Financial Markets Operation Department and International Department.
The RBI currently has three Deputy Governors -- BP Kanungo, MK Jain and MD Patra.
The fourth Deputy Governor’s position has been vacant since NS Vishwanathan quit his position in March 2020, ahead of the completion of his term on July 3, 2020.
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