The Centre appointed RBI’s senior-most Government Director M. Rajeshwar Rao as Deputy Governor.

He succeeds N.S. Vishwanathan, who stepped down in March, three months forward of his prolonged tenure on well being grounds. “The Appointments Committee of the Cupboard has authorized the appointment of M. Rajeshwar Rao, Government Director, RBI, to the publish of Deputy Governor Reserve Financial institution of India,” a notification by the Division of Personnel and Coaching mentioned.

The RBI wants 4 Deputy Governors: two from throughout the ranks, a business banker and an economist to go the financial coverage division.