RBI deputy governor Rajeshwar Rao to handle regulation department

Newly-appointed Reserve Bank of India (RBI) deputy governor M Rajeshwar Rao will be handling effectively the same departments that his predecessor N S Vishwanathan used to look after.

The central bank said in a statement that as deputy governor, Rao will be in looking after Department of Regulation, Department of Communication, Enforcement Department, Inspection Department, Legal Department and Risk Monitoring Department.

After Vishwanathan demitted office in March, these departments were allocated to the remaining three deputy governors.

The position left vacant by N S Vishwanathan after he demitted office on March 31 was filled up after Rao was named the fourth deputy governor last week. Rao was the senior-most among RBI’s 12 executive directors. Until recently, he used to look after Internal Debt Management Department, Financial Markets Operation Department, International Department, and Secretary’s Department.