M Rajeshwar Rao takes charge of monetary policy department ahead of RBI MPC meeting

The Reserve Bank of India (RBI) has announced the redistribution of portfolios among its Deputy Governors, effective January 15, 2025. The reshuffling comes ahead of the Monetary Policy Committee (MPC) meeting scheduled from February 5–7.

Shri M. Rajeshwar Rao
Shri M. Rajeshwar Rao has been entrusted with overseeing 11 critical departments. Among these, the Monetary Policy Department, Co-ordination, and Risk Monitoring will be central to his responsibilities. This new role positions him as a key player in upcoming monetary policy deliberations.

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List of Departments under Shri M. Rajeshwar Rao:

  1. Co-ordination
  2. Department of Communication
  3. Department of Economic and Policy Research
  4. Department of Regulation
  5. Department of Statistics and Information Management
  6. Enforcement Department
  7. International Department
  8. Legal Department
  9. Monetary Policy Department
  10. Risk Monitoring Department
  11. Secretary’s Department

Shri T. Rabi Sankar
Shri T. Rabi Sankar has been allocated 13 departments, emphasizing financial markets, payment systems, and technology. Departments such as Fintech and Information Technology remain pivotal to his role.

List of Departments under Shri T. Rabi Sankar:

  1. Central Security Cell
  2. Department of Currency Management
  3. Department of External Investments & Operations
  4. Department of Government and Bank Accounts
  5. Department of Information Technology
  6. Department of Payment and Settlement Systems
  7. Fintech Department
  8. Financial Markets Operations Department
  9. Financial Markets Regulation Department
  10. Foreign Exchange Department
  11. Human Resource Management Department
  12. Internal Debt Management Department
  13. Right to Information (RIA) Division

Shri Swaminathan Janakiraman
Shri Swaminathan Janakiraman will handle nine departments, focusing on areas such as financial stability and supervision.

List of Departments under Shri Swaminathan Janakiraman:

  1. Consumer Education and Protection Department
  2. Corporate Strategy and Budget Department
  3. Department of Supervision
  4. Deposit Insurance and Credit Guarantee Corporation
  5. Financial Inclusion and Development Department
  6. Financial Stability Department
  7. Inspection Department
  8. Premises Department
  9. Rajbhasha Department

This strategic allocation aims to streamline operations across the central bank’s key functional areas as it prepares for crucial financial policy discussions.