Appointment Details
Shirish Chandra Murmu Becomes RBI Deputy Governor: Shirish Chandra Murmu has been appointed as the Deputy Governor of the Reserve Bank of India (RBI), effective October 9, 2025, for a three-year tenure. He succeeds Rajeshwar Rao, whose term ends on October 8, 2025.
Static GK fact: The RBI has four deputy governors, each responsible for key areas such as monetary policy, banking supervision, and financial regulation.
Background of Shirish Chandra Murmu
Murmu is currently serving as an Executive Director at RBI. He brings extensive experience in banking supervision, regulation, and financial policy formulation. Known for his administrative expertise, Murmu is expected to play a crucial role in steering RBI’s policy direction amid evolving economic challenges.
Static GK Tip: The Deputy Governor post at RBI is pivotal for maintaining financial stability and implementing government policy effectively.
Roles and Responsibilities
RBI Deputy Governors oversee critical functions, including:
- Monetary Policy – Setting and implementing interest rate frameworks.
- Financial Markets Regulation – Supervising currency and capital markets.
- Banking Regulation and Supervision – Monitoring commercial and cooperative banks.
- Other Regulatory Functions – Managing payment systems, risk management, and operational oversight.
Murmu’s specific portfolio is yet to be officially announced, but his background suggests a focus on banking regulation and supervision.
Static GK fact: RBI was established on April 1, 1935, under the Reserve Bank of India Act, 1934.
Leadership Transition and Significance
Murmu replaces Rajeshwar Rao, a seasoned regulator noted for his contributions to banking supervision. The appointment ensures continuity in policy and strengthens RBI’s regulatory framework during global financial market fluctuations, rupee management, and ongoing economic reforms.
Static GK Tip: The RBI plays a central role in India’s economic governance, including controlling inflation, managing liquidity, and supervising financial institutions.
Conclusion
The appointment of Shirish Chandra Murmu as RBI Deputy Governor reinforces the central bank’s leadership and regulatory capabilities. His tenure is expected to enhance financial stability, support economic growth, and ensure robust banking supervision across India.
Static Usthadian Current Affairs Table
Shirish Chandra Murmu Becomes RBI Deputy Governor:
| Topic | Detail |
| Appointee | Shirish Chandra Murmu |
| Position | Deputy Governor, Reserve Bank of India |
| Effective Date | October 9, 2025 |
| Tenure | 3 years |
| Predecessor | Rajeshwar Rao |
| Current Role | Executive Director at RBI |
| Key Responsibilities | Monetary policy, banking supervision, financial regulation, payment systems oversight |
| RBI Establishment | April 1, 1935 |
| Deputy Governors | RBI has four deputy governors overseeing critical functions |
| Leadership Significance | Ensures policy continuity and strengthens financial stability |
