NEW DELHI:

The government has announced the extension of RBI Deputy Governor T Rabi Sankar's term for an additional year, now lasting until May 2026. This marks the second consecutive one-year extension for Sankar, underscoring his significant contributions to the Reserve Bank of India.

The Appointments Committee of the Cabinet (ACC), led by Prime Minister Narendra Modi, approved this re-appointment effective from May 3, 2025. Sankar, who initially took office in May 2021, has been instrumental in overseeing key departments including Payment and Settlement Systems, Information Technology, Fintech, and Risk Monitoring.

Beyond his RBI role, Sankar's expertise is recognized globally, having served as an IMF Consultant from 2005 to 2011, focusing on government bond markets and debt management. His leadership extends to chairing the Indian Financial Technology and Allied Services (IFTAS) and participating in the boards of ReBIT and IDRBT, highlighting his pivotal role in shaping India's financial technology landscape.