Sound governance provides strong foundation for asset reconstruction companies: RBI
In his keynote address, M. Rajeshwar Rao highlighted that sound governance provides a strong foundation for the ARCs to build a robust business model.
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.
Prior to being promoted as an ED, Rao was serving as a Chief General Manager-in-Charge in the Department of Regulation.
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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.
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