Shirish Chandra Murmu Elevated to RBI Deputy Governor Role for Three-Year Term

Shirish Chandra Murmu has taken charge as Deputy Governor of the Reserve Bank of India (RBI) from October 9, 2025. His appointment, announced through the Government of India’s notification dated September 30, 2025, is for a period of three years or until further orders, whichever comes first.

Key Responsibilities in New Role

In his new role, Murmu will oversee several important departments of the RBI, including the Department of Communication, Department of Government and Bank Accounts, Department of Regulation, and the Enforcement Department. These departments play a central role in ensuring smooth communication, regulatory compliance, and the enforcement of banking and financial rules across India.

Career at the Reserve Bank

Murmu has been part of the RBI for over 33 years, joining the central bank in 1991. Over his career, he has served in multiple capacities covering regulation, supervision, and information technology management. His experience spans various operational and administrative areas, providing him with a comprehensive understanding of the central banking system in India.

Previous Role as Executive Director

Before his elevation to Deputy Governor, Murmu was serving as Executive Director of the RBI. In this capacity, he led the Department of Supervision and the Secretary’s Department. His work involved overseeing the supervision of banks and other financial institutions, as well as managing the central bank’s administrative and secretarial functions. This experience positions him to take on broader responsibilities in his new role.

Significance of the Appointment

The appointment of a Deputy Governor is a key decision for the RBI as it ensures continuity in policy implementation and regulatory oversight. The departments under his charge are integral to maintaining operational efficiency, ensuring compliance with banking regulations, and managing communication between the RBI, government agencies, and the banking sector.

Read more: RBI names Shri Sanjay Kumar Hansda as Executive Director

Conclusion

With the new responsibilities, Murmu will continue to contribute to the RBI’s role in maintaining financial stability and overseeing banking operations. His extensive experience in supervision and administration is expected to support the central bank’s ongoing efforts to manage regulation and enforcement effectively.

The three-year term provides an opportunity to focus on strengthening the central bank’s operations and ensuring that regulatory and enforcement frameworks are implemented efficiently across the country.

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