Govt appoints Shirish Chandra Murmu as RBI deputy governor, effective Oct 9

His appointment will take effect from October 9 for a period of three years

The government on Monday appointed Shirish Chandra Murmu as deputy governor of the Reserve Bank of India (RBI) for a period of three years starting October 9.

 

An executive director at the central bank for the last six years, Murmu will replace Deputy Governor Rajeshwar Rao whose term ends on October 8. Rao is currently in-charge of banking regulation, enforcement and legal department.

 

The decision to appoint Murmu was taken by the Appointment Committee of Cabinet (ACC), a notice issued by the government said. He is currently heading the department of supervision.

 

RBI has four deputy governors, Swaminathan J, Rajeshwar Rao, T Rabi Sankar and Poonam Gupta who take care of several functions of the central bank including monetary policy, management of foreign exchange, regulation and supervision of the financial system, among others.

 

 

Murmu has also presided over several high-level internal committees to review RBI regulations in various areas. He also holds the charge of the Secretary’s Department, providing secretarial support to the Central Board of RBI and its committees.

 

A postgraduate from Jawaharlal Nehru University, New Delhi, Murmu joined RBI in 1991. He has over three decades of experience in various central banking functions at mid and senior management levels.

 

He has also served as regional director of a major regional office of RBI, and held senior management roles in other central banking functions such as banking regulation, currency management, information technology, etc.  

Career highlights

• Joined RBI in 1991 and has over  three decades of experience
• Murmu has been serving as an executive director at the  RBI for the last six years
• Heads the department of supervision, also holds charge  of the Secretary’s Department
• Has headed several  high-level internal panels to review various RBI regulations