About us

Mr. M. Rajeshwar Rao is an Independent Director and Non-Executive Chairman of CCIL since January 2026.

Mr. M. Rajeshwar Rao demitted office as Deputy Governor of the Reserve Bank of India (RBI) on October 8, 2025, after completing a distinguished tenure of five years in the position and over 41 years of exemplary service in the Reserve Bank of India. During his tenure as Deputy Governor, Mr. Rao provided strategic leadership and policy direction to several critical departments, including the Department of Regulation, Secretary’s Department, Enforcement Department, Legal Department and Risk Monitoring Department.

A career central banker, Mr. Rao joined the Reserve Bank of India in 1984 and held a wide range of key assignments during his illustrious career. Prior to his elevation to Deputy Governor, he served as Executive Director of the Reserve Bank. As Executive Director, he oversaw the Financial Markets Operations Department, International Department, Internal Debt Management Department, and the Secretary’s Department. Earlier, he served as Chief General Manager of the Financial Markets Operations Department and headed the Risk Monitoring Department. He also represented the Reserve Bank in various eminent international forums such as the Financial Stability Board (FSB) and the Network for Greening the Financial System (NGFS).

Throughout his over four-decade-long association with the Reserve Bank, Mr. Rao has made significant contributions to the formulation and implementation of key regulatory, supervisory, and policy measures, leaving a lasting imprint on India’s banking and financial landscape.

An alumnus of the University of Cochin, Mr. Rao holds a Bachelor’s degree in Economics and a Master of Business Administration. He is also a Certificated Associate of the Indian Institute of Bankers (CAIIB).