Bhubaneswar: The Reserve Bank of India (RBI) has promoted Rabi N Mishra, who was the Principal Chief General Manager of the central bank’s Risk Management Department, as its executive director (ED).

The development came since the ED post was lying vacant after Rosemary Sebastian’s retirement.

As ED, Mishra will look after the newly-created specialised supervisory and regulatory cadre within the RBI. The creation of the cadre was decided at the central board meeting held in Chennai on May 21, sources said.

Besides, Mishra will supervise other departments, including cooperative banks and the non-banking financial companies, sources added.