85 breached
The Indian rupee has breached the significant psychological barrier of 85 against the US dollar, marking an all-time low amid a confluence of domestic and global pressures.
The Reserve Bank of India (RBI) on Friday announced the appointment of R Lakshmi Kanth Rao as an Executive Director (ED).
As per the central bank, the appointment will be effective from May 10 (Friday) itself.
Advertisement
Prior to being promoted as an ED, Rao was serving as a Chief General Manager-in-Charge in the Department of Regulation.
Advertisement
Rao has experience of over three decades in the Reserve Bank having worked in the areas of Regulation of Banks and NBFCs, Supervision of Banks and Consumer Protection.
He had served as Banking Ombudsman at RBI Chennai and as Regional Director of Uttar Pradesh at Lucknow. He has also served as a member of several Committees and Working Groups and has been contributing to policy formulation.
As an Executive Director, Rao will look after Deposit lnsurance and Credit Guarantee Corporation, Right to lnformation Act (FAA), and the Department of Communication, the RBI said in its statement.
R Lakshmi Kanth Rao is a Graduate in commerce. He holds a Master’s degree in Business Administration (Finance) from Sri Venkateswara University, Tirupati and Diploma in TIRM (IIBF). He is also a Certified Associate of IIBF.
Advertisement
