Shri R. Lakshmi Kanth Rao has been appointed as the new Executive Director (ED) of the Reserve Bank of India (RBI) with effect from 10th May, 2024.
Shri Rao had been serving as the Department of Regulation’s Chief General Manager-in-Charge prior to being appointed as the RBI’s ED.
Shri Rao carries with him an experience of nearly 3 decades in the RBI having worked in the areas of Regulation of NBFCs and Banks, Supervision of Banks and Consumer Protection.
He has served as the Banking Ombudsman at RBI’s branch located in Chennai, and as the Regional Director of Uttar Pradesh at Lucknow.
RBI appoints Shri R. Lakshmi Kanth Rao as new Executive Directorhttps://t.co/srVFJauBsH
— ReserveBankOfIndia (@RBI) May 10, 2024
In addition to this, he has also previously served as a member of several committees and working groups, and has been assisting with the formulation of various policies.
As the new ED of RBI, Shri Rao will look after (i) Deposit Insurance and Credit Guarantee Corporation (ii) Right to Information Act (FAA) (iii) Department of Communication.
RBI’s New Executive Director Shri Rao is a Commerce graduate. He holds a Master’s Degree in Business Administration (Finance) from Sri Venkateswara University, Tirupati. Additionally, he also owns a Diploma in TIRM from Indian Institute of Banking and Finance (IIBF). He is also IIBF’s Certified Associate.
Previously, the Executive Director of RBI was Manoranjan Mishra. He was responsible for overseeing the Enforcement Department, Risk Monitoring Department, and Department of External Investments & Operations.