RBI executive director T Rabi Sankar is all set to become the fourth Deputy Governor of the central bank. According to agency reports the appointments committee of the cabinet has approved Rabi Sankar’s appointment to the post.

Rabi Sankar, who is currently in charge of the payments system, fintech, information technology and risk management at the RBI, succeeds BP Kanungo who retired last month. Currently, Mahesh Kumar Jain, Michael Patra and Rajeshwar Rao are the three individuals serving as the deputy governor of the RBI.

Rabi Sankar, a widely respected economist, has an M Phil in Economics. He has gained wide respect for handling crucial departments at the central bank including debt management. Prior to his appointment in the RBI, he served in various positions including IMF consultant to Bangladesh and at the finance ministry.

He was also appointed as the chairman of RBI subsidiary Indian Financial Technology and Allied Services (IFTAS) last year.

-with agency inputs