Shirish Chandra Murmu Appointed RBI Deputy Governor

• 30 Sep 2025

Why in News?

The Government of India has appointed Shirish Chandra Murmu as the new Deputy Governor of the Reserve Bank of India (RBI), effective  9th October 2025, succeeding M. Rajeshwar Rao.

Key Points

• About: Shirish Chandra Murmu, currently serving as the Executive Director at RBI, has been appointed to the post for a period of three years. 
  • He joined the RBI in 1991 and has held important positions such as Regional Director, as well as senior management roles in Banking Regulation, Currency Management, and Information Technology. 
• Function: In his new role, he is expected to handle key portfolios, including banking regulation, financial markets, and monetary policy.
• Appointment: His appointment was approved by the Appointment Committee of the Cabinet (ACC).
  • The Appointments Committee of the Cabinet (ACC), headed by the Prime Minister with the Minister of Home Affairs as a member, is responsible for making senior government appointments.
• Structure: According to the RBI Act of 1934, the central bank is required to have four deputy governors: two from within RBI, one from the commercial banking sector, and one economist to head the monetary policy department.
  • The current deputy governors, in addition to Shirish Chandra Murmu, include T. Rabi Sankar, Swaminathan J, and Poonam Gupta.