RBI Gets New Deputy Governor; Know Him

New Delhi: The Centre on Tuesday appointed Swaminathan Janakiraman as a deputy governor of the Reserve Bank of India (RBI). According to an official notification, the appointment is for a period of three years from the date of joining or until any further order. Janakiraman succeed Mahesh Kumar Jain, whose tenure ends on June 22.

Notably, the central bank has a total of four deputy governors. The other three are – Michael Debabrata Patra, M Rajeshwar Rao, and T Rabi Sankar.

Swaminathan Janakiraman is currently the managing director of the State Bank of India and is responsible for the bank’s Corporate Banking and Subsidiaries vertical. Before this, he was responsible for Bank’s Assurance functions – Risk Management, Regulatory Compliance, and Stressed Assets verticals.

Janakiraman has also handled the Finance function for the SBI overseeing budgeting and performance monitoring, Capital Planning and Investor Relations. He has been part of the Digital Transformation journey of the bank as the Head of the Digital Banking vertical.

He has also served as a nominee director of the SBI on the boards of Yes Bank, Jio Payments Bank, and NPCI as well as Bank of Bhutan, an SBI JV.