The Central Government has extended the tenure of Mr M. Rajeshwar Rao as Deputy Governor, Reserve Bank of India with effect from the 9th of October. 2024. According to an official statement from the RBI, the extension is for one year or until further orders, whichever is earlier. This is the second one-year extension for Mr Rao, who was initially appointed as Deputy Governor in October 2020 for three years. Mr. Rao will continue to look after the Department of Regulation, Department of Communication, Enforcement Department, Legal Department and Risk Monitoring Department.