M Rajeshwar Rao appointed as the RBI Deputy Governor Nitin Yadav 4 years ago The Centre has appointed M Rajeshwar Rao as the new deputy governor of the Reserve Bank of India on 7th October 2020.Four Deputy governors of RBI are M. D. Patra, B. P. Kanungo. M. K. Jain and M Rajeshwar Rao.