In pursuance of the Government of India notification dated October 8, 2020, Shri M. Rajeshwar Rao took over as the Deputy Governor of Reserve Bank of India on October 9, 2020 for a period of three years or until further orders, whichever is earlier.

Shri Rao was Executive Director of the Reserve Bank before being elevated to the post of Deputy Governor.

As Deputy Governor, Shri Rao will look after Department of Regulation, Department of Communication, Enforcement Department, Inspection Department, Legal Department and Risk Monitoring Department.

Shri Rao, a career central banker joined the Bank in 1984 and has worked in various positions in Reserve Bank of India. As Executive Director, he was looking after the Financial Markets Operation Department, the International Department, the Internal Debt Management Department and the Secretary’s Department in RBI.

Prior to taking over as the Executive Director, Shri Rajeshwar Rao was the Chief General Manager, Financial Markets Operation Department and had previously held charge of the Risk Monitoring Department. He has also worked as the Banking Ombudsman, New Delhi. He has also worked in central offices of Foreign Exchange Department and Department of Banking Regulation as well as in the Reserve Bank’s regional offices at Ahmedabad, Hyderabad, Chennai and New Delhi.

Shri Rajeshwar Rao has a Bachelor of Arts in Economics and a Master of Business Administration from University of Cochin. He is also a Certificated Associate of Indian Institute of Bankers.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2020-2021/469