Bhubaneswar/New Delhi: The central government has appointed Shirish Chandra Murmu , a career central banker and native of Odisha, as Deputy Governor of the Reserve Bank of India (RBI).
The Appointments Committee of the Cabinet has approved his appointment for a period of three years from the date of joining the post on or after October 9, sources said on Monday.
Murmu, currently serving as an Executive Director at RBI, would replace M Rajeshwar Rao, whose extended tenure is coming to an end on October 8. Rao oversees regulation, enforcement and risk monitoring, among others.
The other three deputy governors as mandated by the RBI Act, 1934, are T Rabi Sankar, Swaminathan J and Poonam Gupta. The central bank is required to have four deputy governors — two from within the ranks, one from the commercial banking sector, and an economist to head the monetary policy department.
Odisha Chief Minister Mohan Charan Majhi congratulated Murmu on his elevation, calling it a moment of pride for the state. “It is a matter of pride for all of us that an Odia has been appointed to such an important position in the country’s apex bank. I am confident that his experience and performance as Executive Director of RBI will contribute to strengthening the financial system and economy of the country,” the Chief Minister posted on X.