The government has appointed Shirish Chandra Murmu as the new deputy governor of the Reserve Bank of India for a three-year term starting October 9. He will succeed Rajeshwar Rao, who has been overseeing banking regulation and related portfolios.
The government has appointed Shirish Chandra Murmu as a deputy governor of the Reserve Bank of India (RBI). As per details, his appointment will be effective from October 9 for a period of three years. Murmu is currently serving as an executive director at the RBI. He will replace Rajeshwar Rao whose tenure will end on October 8. Rajeshwar Rao has been responsible for overseeing banking regulation along with several other portfolios during his term. His departure will now pave the way for Murmu to step into one of the top positions within the central bank.
Portfolios under deputy governors
The RBI has four deputy governors, each handling critical areas such as monetary policy, banking supervision, and regulation of financial markets. Murmu is expected to take charge of one or more of these portfolios, though his exact responsibilities are yet to be officially announced.
Murmu’s current role
As an executive director, Murmu has been involved in senior oversight functions and high-level administrative and regulatory responsibilities. According to the central bank’s website, his work in the secretary’s department covers governance matters, coordination between departments, regulatory compliance, and internal administration.
