Current Affairs - Awards and Honours - Discussion

M. Rajeshwar Rao, a seasoned Deputy Governor of the Reserve Bank of India (RBI), has been entrusted with the responsibility of heading the Monetary Policy and Economic Research Departments. He succeeds Michael Patra, whose term ended on January 15, 2025. Rao brings with him over four decades of experience in the RBI, having previously managed critical departments like Regulation, Risk Monitoring, and Communication. His expanded role includes participating temporarily in the Monetary Policy Committee (MPC) until a permanent successor to Michael Patra is appointed.