Shirish Chandra Murmu has been appointed as new Deputy Governor of Reserve Bank of India for a period of three years from the date of joining the post on or after October 09, 2025 or until further orders, whichever is earlier. Shirish Chandra Murmu will replace the current RBI Deputy Governor M Rajeshwar Rao, whose extended term ends on October 8, 2025. Murmu is currently serving as Executive Director in the Reserve Bank of India (RBI) and heads the Department of Supervision.
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| Shirish Chandra Murmu Appointed As Deputy Governor of Reserve Bank of India (RBI) |
Shirish Chandra Murmu Appointed As New Deputy Governor of RBI
Shirish Chandra Murmu has been appointed as new Deputy Governor of the Reserve Bank of India (RBI) for a period of three years from the date of joining the post on or after October 09, 2025 or until further orders, whichever is earlier.
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The Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi has approved the name of Shirish Chandra Murmu, Executive Director as the Deputy Governor of the Reserve Bank of India (RBI) for a period of three years.
Shirish Chandra Murmu will replace the current RBI Deputy Governor M Rajeshwar Rao, whose extended term ends on October 8, 2025.
Rajeshwar Rao was first appointed as the RBI deputy governor in September 2020 for a three-year term and received a one-year extension in 2023, followed by another extension in 2024. Thus, Rao will complete a total tenure of five years on October 8.
Murmu is currently serving as Executive Director in the Reserve Bank of India (RBI) and heads the Department of Supervision.
According to the press release - Government of India, vide its notification dated September 30, 2025, and in exercise of the powers conferred by clause (a) of sub-section (1) of section 8 of the Reserve Bank of India Act 1934, read with sub-section (4) of section 8 thereof, has appointed Shri Shirish Chandra Murmu, Executive Director as Deputy Governor of Reserve Bank of India for a period of three years from the date of joining the post on or after October 09, 2025 or until further orders, whichever is earlier.
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Structure of RBI
As per the RBI Act of 1934, the Reserve Bank of India is required to have four Deputy Governors – two from within the RBI, one from the commercial banking sector and an economist to head the Monetary Policy Department.
The current Deputy Governors of the RBI are T. Rabi Shankar, Swaminathan J, Poonam Gupta, and M. Rajeshwar Rao. Rao's term ends on October 8, 2025, and Shirish Chandra Murmu has been appointed as his replacement.
About Shirish Chandra Murmu Deputy Governor of RBI
Shirish Chandra Murmu was born on August 8, 1966, in Odisha. He is currently serving as Executive Director in the Reserve Bank of India (RBI) and heads the Department of Supervision.
Murmu 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.
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Shirish Chandra Murmu Role and Responsibilities as Deputy Governor of RBI
In Shirish Chandra Murmu's role and responsibilities as RBI Deputy Governor, he is expected to handle key portfolios including banking regulation, financial markets and monetary policy.
About Reserve Bank of India (RBI)
The Reserve Bank of India was established on April 1, 1935 according to the provisions of the Reserve Bank of India Act, 1934. The headquarters of the Reserve Bank was initially established in Kolkata but was permanently moved to Mumbai in 1937.
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Initially the bank was privately owned, but since nationalization in 1949 it is fully owned by the Government of India.
Governor of RBI
The current Governor of the Reserve Bank of India is Sanjay Malhotra. He replaced Shaktikanta Das as the governor.
Deputy Governor of RBI
The 4 Deputy Governors are appointed in the Reserve Bank of India (RBI), who are as follows.
- M. Rajeshwar Rao (whose extended term ends on October 8, 2025)
- T. Rabi Sankar
- Swaminathan J
- Dr Poonam Gupta
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Static Current Affairs related to RBI for upcoming exams
- Establishment: 1 April 1935
- Headquarters: Mumbai, Maharashtra
- Governor: Sanjay Malhotra
- Deputy Governor: Swaminathan J, M. Rajeshwar Rao, T. Rabi Sankar and Poonam Gupta
- Ownership: Ministry of Finance , Government of India
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