Shirish Chandra Murmu Appointed as RBI Deputy Governor.

The Government of India has appointed Shirish Chandra Murmu as the new Deputy Governor of the Reserve Bank of India (RBI) for a three-year term, effective October 9, 2025. Murmu, currently serving as an Executive Director at the RBI, will succeed M Rajeshwar Rao, whose tenure concludes on October 8.

      - Murmu's appointment was approved by the Appointments Committee of the Cabinet, headed by the Prime Minister. As Deputy Governor, he will oversee one of the four key departments at the RBI: monetary policy, financial markets regulation, banking supervision, or financial inclusion. The specific portfolio allocation is yet to be announced.

      - Prior to this role, Murmu held significant positions within the RBI, including overseeing the Department of Supervision. His extensive experience in regulatory and supervisory functions positions him well to contribute to the central bank's objectives.

Main Point :-   (i) Murmu's appointment marks a significant leadership transition within the RBI, following the retirement of M Rajeshwar Rao, who has completed five years in office. Rao's tenure included two extensions after his initial three-year term, concluding on October 8.

      (ii) The RBI's four deputy governors play crucial roles in shaping India's monetary and financial policies. Murmu's leadership is expected to influence the central bank's strategies in the coming years.

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