The Reserve Bank of India (RBI) has named Shri R. Lakshmi Kanth Rao as its new Executive Director, effective May 10, 2024. Before this promotion, Rao was the Chief General Manager-in-Charge in the Department of Regulation.

Rao brings over 30 years of experience at the RBI, having worked extensively in bank and NBFC regulation, bank supervision, and consumer protection. His previous roles include Banking Ombudsman in Chennai and Regional Director for Uttar Pradesh in Lucknow. He has also been a member of various committees and working groups, contributing to policy development.

As Executive Director, Rao will oversee the Deposit Insurance and Credit Guarantee Corporation, the implementation of the Right to Information Act (FAA), and the Department of Communication.

Rao holds a commerce degree and a master’s in Business Administration (Finance) from Sri Venkateswara University, Tirupati. He also has a Diploma in TIRM from IIBF and is a Certified Associate of IIBF.