The Reserve Bank of India (RBI) on Tuesday announced a reshuffling of portfolios among three of its four Deputy Governors, M Rajeshwar Rao, T Rabi Sankar, and Swaminathan Janakiraman, effective January 15, 2025.
The reshuffle coincides with the conclusion of Michael Patra’s tenure as Deputy Governor on the same date.
M Rajeshwar Rao, who was appointed Deputy Governor in 2020 for a three-year term and later received two extensions (the latest in October 2024), has been entrusted with 11 portfolios.
These include the Co-ordination, Department of Communication, Department of Economic and Policy Research, Department of Regulation, Department of Statistics and Information Management, Enforcement Department, International Department, Legal Department, Monetary Policy Department, Risk Monitoring Department, and Secretary’s Department.
T Rabi Sankar, who assumed the role in 2021 for a three-year term and received a one-year extension in 2024, now oversees 13 portfolios. His responsibilities include the Central Security Cell, Department of Currency Management, Department of External Investments & Operations, Department of Government and Bank Accounts, Department of Information Technology, Department of Payment and Settlement Systems, Fintech Department, Financial Markets Operations Department, Financial Markets Regulation Department, Foreign Exchange Department, Human Resource Management Department, Internal Debt Management Department, and the Right to Information (RIA) Division.Swaminathan Janakiraman, appointed Deputy Governor in 2023 for a three-year term, has been allocated eight portfolios. These include the Consumer Education and Protection Department, Corporate Strategy and Budget Department, Department of Supervision, Deposit Insurance and Credit Guarantee Corporation, Financial Inclusion and Development Department, Financial Stability Department, Inspection Department, Premises Department, and Rajbhasha Department.
