T Rabi Sankar on Monday took over as the new deputy governor of the Reserve Bank of India for a period of three years, the central bank said in a statement. Sankar has filled the vacancy created after the retirement of B P Kanungo on April 2. The other three deputy governors are Michael D Patra, who heads the all-important monetary policy department; Mukesh Kumar Jain, the commercial banker-turned-central banker; and Rajeshwar Rao. Sankar was Executive Director of the Reserve Bank before being elevated to the post of deputy governor. The Appointments Committee of the Cabinet cleared Sankar's appointment as the new RBI deputy governor on Saturday.