Shirish Chandra Murmu appointed RBI Deputy Governor for three years

The government has appointed Shirish Chandra Murmu as the new Deputy Governor of the Reserve Bank of India (RBI) for a term of three years. He will take charge after October 9, replacing M. Rajeshwar Rao, whose extended tenure ends on October 8. The Appointments Committee of the Cabinet approved Murmu’s appointment for three years from the date he joins, sources said on Monday.

Murmu is currently serving as Executive Director at the RBI, where he looks after the Department of Supervision.

As per the RBI Act, 1934, the central bank should have four deputy governors — two from RBI’s internal cadre, one from the commercial banking sector, and one economist to head the monetary policy department.

The other three deputy governors at present are T. Rabi Sankar, Swaminathan J, and Poonam Gupta.

It is important to note that M. Rajeshwar Rao was first appointed as Deputy Governor in September 2020 for three years. He later received a one-year extension in 2023 and another in 2024, completing a total of five years by October 8, 2025.

Who is Shirish Chandra Murmu?

Shirish Chandra Murmu is the Executive Director of RBI. Murmu oversees key administrative responsibilities, regulatory policies, and senior-level functions within the Reserve Bank of India’s organisational framework, according to the RBI website. Within the Secretary’s Department, his role generally covers inter-departmental coordination, governance-related issues, regulatory compliance, and internal administrative management.