Shirish Chandra Murmu takes over as RBI Deputy Governor

Shirish Chandra Murmu took over as the Deputy Governor of the Reserve Bank of India (RBI). The Government of India appointed Shirish Chandra Murmu as Deputy Governor of RBI on September 30, 2025 for a term of three years or until further orders, whichever is earlier. Shirish Chandra has replaced M Rajeshwar Rao as RBI Deputy Governor, whose extended term ended on October 8, 2025. Before being appointed as the Deputy Governor of RBI, Murmu was serving as the Executive Director and Head of the Department of Supervision.

Shirish Chandra Murmu takes charge as RBI Deputy Governor

Shirish Chandra Murmu took charge as the Deputy Governor of the Reserve Bank of India (RBI) on 9th October 2025.

The Government of India on September 30, 2025, appointed Shirish Chandra Murmu to the post of Deputy Governor of RBI for a period of three years from the date of joining the post or until further orders, whichever is earlier.

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Shirish Chandra Murmu took over the appointment of Deputy Governor of the Reserve Bank of India (RBI) at Mumbai with effect from 9th October 2025.

Shirish Chandra has replaced M Rajeshwar Rao as RBI Deputy Governor, whose extended term ended 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 completed a total tenure of five years on October 8.

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 Shirish Chandra Murmu.

Role and Responsibilities of RBI Deputy Governor Shirish Chandra Murmu

As RBI Deputy Governor, Shirish Chandra Murmu will be responsible for the Department of Communication, Department of Government and Bank Accounts, Department of Regulation and Enforcement Department.

Shirish Chandra Murmu Areas of Expertise

Shirish Chandra Murmu areas of expertise include regulation and supervision of regulated entities and management of IT infrastructure.

About Shirish Chandra Murmu Deputy Governor of RBI

Shirish Chandra Murmu was born on August 8, 1966, in Odisha.

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.

Before being appointed as the Deputy Governor of RBI, Murmu was serving as the Executive Director. As Executive Director, he was looking after the Department of Supervision and Secretary’s Department.

Murmu has headed several high-level Internal committees to review the RBI regulations in various areas. He was the Chairperson of ‘Inter-Institutional Committee on Comprehensive Review of Priority Sector Lending Certificates’ and ‘Internal Group on Regulation Cluster (Commercial and Cooperative Banking, Non-Banking)’.

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Murmu was an Invitee in the ‘Regulatory Review Authority 2.0’ set up by the Reserve Bank in April 2021 and Member of the ‘Internal Working Group to Review Extant Ownership Guidelines and Corporate Structure for Indian Private Sector Banks’ constituted by the Reserve Bank in 2020.

Murmu has served as RBI Nominee Director on the Boards of Bank of India and Dena Bank in the past, as well as on the Board of ECGC Limited.

Murmu has also served as the Regional Director of Kolkata Office and as the Chief General Manager in the Department of Information Technology, Central Office of the Reserve Bank. He has also held senior management roles in other key central banking areas, including Banking Regulation and Currency Management.

Educational Life of Shirish Chandra Murmu

Shirish Chandra Murmu holds a Master’s degree in Life Sciences from Jawaharlal Nehru University (JNU), New Delhi. He is also a Certified Associate of Indian Institute of Banking (CAIIB).

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.

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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, Shirish Chandra Murmu, T. Rabi Sankar and Poonam Gupta
Ownership: Ministry of Finance , Government of India

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Shirish Chandra Murmu takes over as RBI Deputy Governor