Shri T. Rabi Sankar Appointed as the New Governor of Reserve Bank of India
The Government of India has appointed Shri T. Rabi Sankar as the Governor of the RBI, succeeding the previous incumbent after a distinguished tenure.
Key Points for Quick Revision
- Shri T. Rabi Sankar is the new Governor of the Reserve Bank of India.
- He previously served as a Deputy Governor of the RBI.
- The appointment is made by the Appointments Committee of the Cabinet (ACC).
- The standard term for an RBI Governor is three years.
How This Topic is Tested in Competitive Exams
| Exam | Frequency | Approx. Marks | What Gets Asked |
|---|---|---|---|
| Banking (IBPS / SBI) | Very High | 6–10 | RBI policy, inflation, CRR/SLR, monetary committee decisions — banking exams test the full spectrum. |
| UPSC / State PCS | High | 10–20 | Economy is a core UPSC subject. Economic Survey, budget, and policy changes are heavily tested. |
| SSC (CGL / CHSL / MTS) | Medium | 2–4 | Budget highlights, GDP data, and government economic schemes appear in SSC CGL GK section. |
What to Memorize from This Topic
- Key budget figures: fiscal deficit %, GDP growth projection, key scheme allocations
- RBI rate decisions: Repo rate, CRR, SLR, Reverse Repo — current values
- Rankings: India's position in ease of doing business, hunger index, HDI
- Abbreviations: FRBM, NBFC, MPC, PMGSY, PMGKAY — full forms and purpose
- Trade data: import-export balance, major trading partners
Practice Questions
Q1. Who appoints the Governor of the Reserve Bank of India?
- President of India
- Finance Minister
- Appointments Committee of the Cabinet
- NITI Aayog
Explanation: The Governor of the RBI is appointed by the Appointments Committee of the Cabinet (ACC) headed by the Prime Minister.
Q2. What is the typical tenure for the Governor of the RBI?
- 2 years
- 3 years
- 5 years
- 6 years
Explanation: The RBI Governor is typically appointed for a term of three years, which can be extended.
How to Prepare Economy & Finance for Government Exams
Track current Repo Rate, Inflation rate, and GDP growth. These three numbers appear in almost every banking exam.
Keep a running note of new schemes with their ministry, launch date, and target beneficiary group.
Focus on the Economic Survey and Union Budget highlights — these single documents generate dozens of exam questions.