The government on Monday appointed Duvvuri Subba Rao as the next Governor of the Reserve Bank of India. He succeeds Y Venugopal Reddy, who is also from Andhra Pradesh, as the next RBI Governor. Subba Rao will take over from YV Reddy on September 5. Subba Rao is currently serving as the union fiancé secretary.

Subba Rao is a native of Eluru in West Godavari district. He had earlier worked as the collector of Prakasam and Visakhapatnam districts. He will remain in his new post for a period of three years.