T. Rabi Sankar’s name has been cleared for the post of the deputy governor of the Reserve Bank Of India (RBI) by the appointments committee of the Union Cabinet. Currently Rabi Sankar is serving as the executive director in charge of payments and settlement.
After B.P. Kanungo retired on April 2, the deputy governor’s position has been lying vacant. Sankar joins the other three deputy governors, Mahesh Kumar Jain, Michael Patra, and M.Rajeswar Rao.
Sankar has experience across a wide spectrum of central banking functions, such as exchange rate management, reserves portfolio management, public debt management, monetary operations, development, regulation and surveillance of financial markets and of payment systems, and managing the Bank’s IT infrastructure.
Sankar has been a member of RBI committees including those for forming marginal cost of funds based lending system, hedging of commodity price risk, integration of commodity spot and derivatives markets. He was also part of two important working groups of the Bank for International Settlement (BIS) on capital markets and dollar funding markets. Sankar holds an M Phil in Economics degree.
Along with payments, Sankar is also in charge of fintech, department of information technology, RTI (right to information) and risk monitoring.