Shirish Chandra Murmu Appointed RBI Deputy Governor, Brings 33 Years of Experience to Key Role

The Reserve Bank of India has welcomed a new face to its top leadership team. Shirish Chandra Murmu, a seasoned central banker with over three decades of experience, assumed office as Deputy Governor on October 9, 2025. His appointment was approved by the Appointments Committee of the Cabinet and marks a strategic transition in RBI’s regulatory and supervisory framework.

Key highlights of the appointment:

- Murmu replaces M Rajeshwar Rao, whose extended tenure concluded on October 8, 2025  
- He has been appointed for a term of three years or until further orders, whichever is earlier  
- Murmu will oversee four major departments: Regulation, Enforcement, Communication, and Government and Bank Accounts  
- Prior to this role, he served as Executive Director at RBI, handling supervision, governance, and internal coordination  
- He has also served as RBI nominee director on the boards of Bank of India, Dena Bank, and ECGC Limited  
- Murmu holds a Master’s degree in Life Sciences from Jawaharlal Nehru University and is a Certified Associate of the Indian Institute of Banking  
- His elevation ensures regulatory continuity amid global financial uncertainties and evolving domestic challenges  
- The RBI continues to maintain four Deputy Governors as per the RBI Act, 1934: two from within the central bank, one from the commercial banking sector, and one economist  

Murmu’s appointment comes at a time when the central bank is navigating complex macroeconomic dynamics, including inflation control, digital currency rollout, and financial sector reforms. His deep institutional knowledge and prior leadership roles are expected to strengthen RBI’s policy execution and stakeholder engagement.

Sources: MSN News, News18, Times of India, The Hindu