ARTICLE · 22 MAY 2024

AKP Banking & Finance Digest- May 20, 2024

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The Reserve Bank of India ("RBI") has appointed Shri R. Lakshmi Kanth Rao as Executive Director ("ED") effective from May 09, 2024.

GlobalFinance and Banking

1. Regulatory Updates

1.1. India

1.1.1. RBI appoints Shri R. Lakshmi Kanth Rao as Executive Director

The Reserve Bank of India ("RBI") has appointed Shri R. Lakshmi Kanth Rao as Executive Director ("ED") effective from May 09, 2024. Previously, Shri Rao held the position of Chief General Manager-in-Charge in the Department of Regulation. With over three decades of experience in the RBI, he has worked extensively in areas such as regulating banks and NBFCs, bank supervision, and consumer protection. Shri Rao has served as the Banking Ombudsman in RBI Chennai and as Regional Director of Uttar Pradesh in Lucknow. He has also been involved in various Committees and Working Groups, contributing to policy formulation. In his new role as Executive Director, Shri Rao will oversee the Deposit Insurance and Credit Guarantee Corporation, the Right to Information Act (FAA), and the Department of Communication RBI

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