The Government of India has approved a second one-year extension for RBI Deputy Governor T Rabi Sankar, extending his term until May 2026. The decision was made by the Appointments Committee of the Cabinet, headed by Prime Minister Narendra Modi, and will be effective from May 3, 2025. T Rabi Sankar, who was first appointed in May 2021, has a wealth of experience in overseeing key departments at the Reserve Bank of India and has a background as an IMF Consultant. This extension provides continuity and stability in leadership at the RBI, ensuring a smooth transition and continued focus on important monetary policies and financial regulations.