T Rabi Sankar s term as RBI Deputy Governor extended for a year from May 3, 2024. With a background in economics, he has been involved in developing government bond markets and debt management, in addition to overseeing key departments at RBI.
The Indian government has extended the term of RBI Deputy Governor T Rabi Sankar for one year, effective May 3, 2024. Sankar, who joined the Reserve Bank in 1990, has worked in various positions at the central bank, including Executive Director of the Reserve Bank and IMF Consultant. He has also served as Chairman of Indian Financial Technology and Allied Services (IFTAS), member of ReBIT Board of Directors, and IDRBT Governing Council.
Rajeshwar Rao also pointed out that regulators must focus on achieving a delicate equilibrium that addresses the critical concerns without imposing an undue burden on regulated entities.
Rbi: As regards the challenges before the country, he said the contribution of labour to value added in India compares poorly in a cross-country perspective - in terms of appropriate skills for a specific job, only 51% is employable, highlighting the criticality of the upskilling missions that are underway, such as Skill India that aims to bridge the skill gap and enhance employability.
RBI Deputy Governor predicts India s economy to become the world s largest by 2050, driven by 10% growth rate. Challenges include increasing female labor participation and enhancing exports, with a focus on high-value tourism and financial services.