Rao, who served on several BCCI committees, was being treated for lung ailment for the past 10 days and he breathed his last in a private hospital this afternoon, ACA sources said.
He was 82 and is survived by wife, son and two daughters.
Rao, a former Mayor of Visakhapatnam, was also part of legal fraternity and served as Chairman of Bar Council of India for two terms. He played university-level cricket.
He was President of ACA from 1991 to 2002 and again from 2011 till his death.