Government of India has chosen to prolong the service of T. Rabi Sankar, Deputy Governor of the Reserve Bank of India (RBI), for another year until May 2025, according to a government directive reported by Reuters. Effective from May 3, 2024, this extension underscores Sankar’s continued stewardship over critical domains within the central bank, including foreign exchange, currency, and fintech operations.

Sankar, entrusted with key responsibilities within the RBI, has been instrumental in navigating India’s monetary policy landscape. His extended tenure reflects the government’s confidence in his leadership and expertise amid ongoing economic challenges and evolving financial technologies.

This decision also signals stability and continuity in the RBI’s leadership during a period of significant economic transitions.