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T. Ravi Shankar replaced the fourth deputy governor of RBI, BP Kanungo

T Ravi Shankar (T Rabi Sankar) has been appointed as Deputy Governor of Reserve Bank of India (RBI). He was chairman of Indian Financial Technology and Allied Services, a central bank subsidiary. Ravi Shankar will be one of the four deputy government level officials of RBI. The fourth post of deputy governor was vacant since BP Kanungo retired on April 2. Kanungo retired after a year of service extension.

The Appointments Committee of the Union Cabinet approved the proposal for the appointment of Ravi Shankar. He can assume the responsibility of the Department of Kanungo who was handling the divisions of FinTech, Information Technology, Payment Systems and Risk Monitoring.

Will be appointed for 3 years

He has been appointed for three years or till the date of his retirement, whichever is earlier. The other three deputy governors of RBI include Michael D Patra, Mukesh Jain and Rajeshcher Rao. Michael Patra is the head of the Monetary Policy Department.

Who is Ravi Shankar?

Ravi Shankar was appointed as Research Officer in RBI in September 1990. He did his post graduation in Science and Statistics from BHU. He is also pursuing a diploma course in Development Planning from the Institute of Economic Growth.

He was made the chairman of Indian Financial Technology and Allied Services last year. Prior to this, he has also worked with the International Monetary Fund (IMF) and the Central Bank of Bangladesh on behalf of the Government of India.

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