shirish-murmu-is-rbi-dy-governor

The government has appointed Shirish Chandra Murmu as Deputy Governor of the Reserve Bank of India (RBI) for a three-year tenure. Murmu replaces M Rajeshwar Rao, whose extended tenure is coming to an end on October 8.

 

The Appointments Committee of the Cabinet approved his appointment for a period of three years from the date of joining the post on or after October 9. Murmu is currently Executive Director at the RBI, overseeing the Department of Supervision.

 

Going by the RBI Act, 1934, the RBI should have four deputy governors, two from within the ranks, one from the commercial banking sector and an economist to head the monetary policy department. The other three deputy governors are T Rabi Sankar, Swaminathan J and Poonam Gupta.

 

Rao was first appointed Deputy Governor in September 2020 for a period of three years and received a one-year extension in 2023, followed by another extension in 2024.

 

Also read: Ex-RBI Governor Urjit Patel appointed as IMF Executive Director