The (Reserve Bank of India) RBI has appointed R. Lakshmi Kanth Rao as Executive Director (ED), effective from May 10, 2024, marking a significant addition to its leadership team. Shri Rao, previously serving as Chief General Manager-in-Charge in the Department of Regulation, brings a wealth of experience and expertise to his new role.
With over three decades of service in the Reserve Bank, Shri Rao has amassed extensive knowledge in various areas, including the regulation of banks and non-banking financial companies (NBFCs), supervision of banks, and consumer protection. His previous roles, such as Banking Ombudsman in RBI Chennai and Regional Director in Lucknow, underscore his diverse experience and leadership capabilities.
Shri Rao has also been actively involved in policy formulation, having served as a member of several committees and working groups. His contributions to the banking sector have been instrumental in shaping regulatory frameworks and enhancing consumer protection measures.
As Executive Director, Shri Rao will oversee critical functions within the RBI, including the Deposit Insurance and Credit Guarantee Corporation and the Right to Information Act (RTI). Additionally, he will lead the Department of Communication, playing a pivotal role in disseminating information and maintaining transparency.
Shri Rao holds a graduate degree in commerce and a master’s degree in Business Administration with a specialization in finance from Sri Venkateswara University, Tirupati. He also holds a Diploma in TIRM (IIBF) and is a Certified Associate of the Indian Institute of Banking and Finance (IIBF).
The appointment of Shri R. Lakshmi Kanth Rao as Executive Director underscores RBI’s commitment to leadership excellence and strategic management of key departments. His vast experience and qualifications make him well-suited to drive the RBI’s agenda forward and ensure the continued stability and efficiency of India’s banking sector.
