R Lakshmi Kanth Rao has been appointed as Executive Director (ED) by RBI

Current Context: The Reserve Bank of India (RBI) has indeed appointed Shri R. Lakshmi Kanth Rao as the new Executive Director (ED) with effect from May 10, 2024.

• Before his promotion to ED, Shri Rao served as the Chief General Manager-in-Charge in the Department of Regulation.
• He has over three decades of experience in the Reserve Bank, having worked in areas such as the regulation of banks and NBFCs, supervision of banks, and consumer protection.
• Shri Rao has also served as the Banking Ombudsman at RBI Chennai and as the Regional Director of Uttar Pradesh at Lucknow.
• He has been a member of several committees and working groups, contributing to policy formulation.
• As the Executive Director, Shri Rao will oversee the following areas:
• Deposit Insurance and Credit Guarantee Corporation
• Right to Information Act (FAA)
• Department of Communication

Question:

Q.1 Who has been appointed as the new Executive Director of the Reserve Bank of India (RBI) effective from May 10, 2024?
a. Shri R. Lakshmi Kanth Rao
b. Shri S. Venkataraman
c. Shri P. Raghuram Rajan
d. Shri K. C. Chakrabarty