India’s central bank names new executive director

Shri R. Lakshmi Kanth Rao was previously a head at the department of regulation.

The Reserve Bank of India (RBI) has appointed Shri R. Lakshmi Kanth Rao as executive director, effective 10 May.

As executive director, he is tasked with looking after deposit insurance, credit guarantee corporations, the right to information act (FAA), and the department of communication.

Prior to his new role, Rao served as chief general manager-in-charge in the department of regulation, RBI said in a press statement posted on its website.

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He brings over three decades of experience in the central bank. He has worked in the areas of regulation of banks and non-bank financial companies (NBFCs), the supervision of banks, and consumer protection.

Prior to his role with central bank, he also served as banking ombudsman at RBI Chennai and as regional director of Uttar Pradesh at Lucknow.

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