The government has appointed Shirish Chandra Murmu as the new Deputy Governor of the Reserve Bank of India (RBI) for a three-year tenure starting on or after 9 October 2025.
He replaces M Rajeshwar Rao, whose extended term ends on 8 October 2025. Murmu, currently an Executive Director at RBI overseeing the Department of Supervision, will join the team of four deputy governors alongside T Rabi Sankar, Swaminathan J, and Poonam Gupta.
As per the RBI Act, 1934, the RBI must have four deputy governors: two from within RBI, one from commercial banking, and one economist for monetary policy.
