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T RABI SANKAR APPOINTED AS RBI DEPUTY GOVERNOR

T RABI SANKAR APPOINTED AS  RBI DEPUTY GOVERNOR

Context

Reserve Bank of India (RBI) executive director T Rabi Sankar has been appointed as the fourth Deputy Governor of the central bank.

Details

  • He succeeds B P Kanungo as the deputy governor.
  • He joins Mahesh Kumar Jain, Michael Patra and Rajeshwar Rao as the fourth deputy governor of the central bank.
  • He has been appointed for a period of three years.
  • The Appointments Committee of the Cabinet has approved the appointment

About Reserve Bank of India

  • Established : On April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934.
  • It is fully owned by the Government of India.
  • Headquarter : Mumbai(Since 1937, previously in Kolkata).
  • Preamble of RBI :
    • To regulate the issue of Bank notes.
    • To operate the currency and credit system of the country.
    • To release a monetary policy framework.
    • To maintain price stability.

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