The Appointments Committee of the Cabinet (ACC) has approved the re-appointment of RBI Deputy Governor T Rabi Sankar for one year from May 3 this year.

An order to this effect has been issued by the Department of Personnel & Training on Tuesday.

Sankar, who has a Master of Philosophy in Economics from the Jawaharlal Nehru University at Delhi, was appointed as RBI Deputy Governor in May 2021 for three years. He was an Executive Director of RBI before being elevated to the post of Deputy Governor in May 2021.

Sankar has been holding charge of the central security cell, and the departments of currency management, foreign exchange, internal debt management, information technology, payment and settlement systems, external investments and operations, and government and bank accounts, amongst others.

Besides the RBI Governor Shaktikanta Das, the central bank has four Deputy Governors— M.D.Patra; M Rajeshwar Rao;  J Swaminathan and T Rabi Sankar.

In January this year, the Centre had extended the tenure of RBI Deputy Governor Michael Patra by another year (with effect from January 15). Patra is in charge of the all-important monetary policy department and is a member of the rate setting panel.