The Modi government has extended the term of Reserve Bank of India’s (RBI’s) Deputy Governor M Rajeshwar Rao for another one year. This extension is effect from October 9, 2024.
The Appointments Committee of the Cabinet in a notification said that it has approved the re-appointment of Rao for a period of one-year, effective October 9, 2024, or until further orders, whichever is earlier.
This is his second one-year extension. Previously, his term as Deputy Governor of RBI was extended by the government for one year, with effect from October 9, 2023.
Rao was initially appointed as RBI Deputy Governor in October 2020 for three-year term.
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