People: RBI names new deputy governor

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India: The Reserve Bank of India has named Rajeshwar Rao as its new deputy governor. He will serve for an initial term of three years or “until further orders”.

Rao takes responsibility for the departments of regulation, communication, enforcement, inspection, legal and risk monitoring.

The RBI said Rao was a “career central banker”, who first joined the institution in 1984. He has served in several departments of the central bank, including foreign exchange, banking regulation and risk

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