Shirish Chandra Murmu Sworn in as the Deputy Governor of the RBI

1. Appointment Details:

• Shirish Chandra Murmu was added to the position of Deputy Governor of RBI .
• Efficient 9 th October 2025 3 year term .
• Succeeds Rajeshwar Rao
• Kindly sanctioned by Appointments Committee of Cabinet (ACC) led by Prime Minister.

2. Professional Background:

• Joined in 1991 as career RBI officer .
• Takes important positions in Banking Regulation, Currency Management and Information Technology .
• Worked as Regional Director in different centers.
• Past association as the Executive Director with RBI.

3. RBI Governance Structure:

• In RBI Act, 1934, there are 4 Deputy Governors required :
  • 2 from within RBI ranks
  • 1 of commercial banking experience.
  • 1 monetary policy economist.
• Present Deputy Governors: Rabi Sankar, Swaminathan J, Poonam Gupta, and Shirish Chandra Murmu.

4. Expected Responsibilities:

• Probably to deal with banking regulation, financial markets and monetary policy.
• Portfolio to be determined later.
• Monetary policy implementation, financial market regulation, banking supervision, payment systems and risk management are normally under the supervision of Deputy Governors .

5. Strategic Significance:

• Promotes continuity of the policy in event of economic hardships.
• Enhances regulatory structure .
• Helps India to stay afloat in the global turmoil and reformation of the financial sector .
• Stable in rupee management .