RBI appoints R Lakshmi Kanth Rao as executive director effective May 10

The Reserve Bank of India (RBI) on Friday appointed R Lakshmi Kanth Rao as executive director (ED) with effect from May 10, 2024, according to the regulator’s press release.

As executive director, Rao will handle the Deposit Insurance and Credit Guarantee Corporation (DICGC), the Right to Information Act (FAA), and the Department of Communication.

Rao was previously serving as chief general manager in charge in the Department of Regulation.

He has over 30 years of experience at the RBI and has worked in several areas, including regulation of banks and non-banking financial companies (NBFCs), supervision of banks, and consumer protection. He also served as a banking ombudsman at RBI Chennai and as regional director of Uttar Pradesh in Lucknow.

 

Rao has served as a member of several committees and working groups and has contributed to policy formulation.

He is a commerce graduate and also holds a master’s degree in business administration (finance) from Sri Venkateswara University, Tirupati, and a diploma in TIRM (IIBF). He is also a certified associate of the IIBF.