Shirish Chandra Murmu appointed RBI Deputy Governor 2025. Learn about his career, role, and significance for banking, civil service, and government exams.
Shirish Chandra Murmu Appointed as RBI Deputy Governor
Introduction
In a significant development for India’s financial sector, the Union Government has appointed Shirish Chandra Murmu as the Deputy Governor of the Reserve Bank of India (RBI). His appointment, approved by the Appointments Committee of the Cabinet (ACC) headed by the Prime Minister, is set to commence on October 9, 2025, for a term of three years
Background and Career
Murmu, currently serving as an Executive Director at the RBI, brings over two decades of experience in central banking. His tenure at the RBI has seen him oversee critical departments, including the Department of Supervision and the Secretary’s Department . His extensive background positions him well to contribute to the RBI’s strategic objectives.
Succession and Transition
Murmu’s appointment follows the retirement of M. Rajeshwar Rao, the senior-most Deputy Governor, whose term concludes on October 8, 2025. Rao has been instrumental in areas such as banking regulation and enforcement during his tenure Murmu’s elevation ensures continuity in leadership at the central bank.
Significance of the Appointment
The appointment of Murmu is a strategic move by the government to leverage his expertise in banking supervision and regulation. As the RBI continues to navigate the complexities of India’s evolving financial landscape, Murmu’s leadership is expected to play a pivotal role in shaping policies that ensure financial stability and growth.
Why This News Is Important
Relevance to Government Exams
Understanding the leadership structure of key institutions like the RBI is crucial for candidates preparing for various government exams. Questions related to appointments, roles, and functions of such institutions are commonly featured in exams for positions in banking, civil services, and other sectors.
Impact on Monetary Policy
The Deputy Governor of the RBI plays a vital role in formulating and implementing monetary policies. Murmu’s appointment may influence decisions on interest rates, inflation control, and economic growth strategies, all of which are pertinent to current affairs sections of competitive exams.
Institutional Knowledge
Familiarity with the RBI’s organizational structure and its leadership is essential for aspirants. Murmu’s appointment highlights the importance of understanding the roles and responsibilities of key officials within the institution.
Historical Context
Evolution of the RBI’s Leadership
The Reserve Bank of India, established in 1935, has undergone significant transformations in its leadership structure to adapt to the changing economic environment. The role of Deputy Governor has evolved to encompass a broader range of responsibilities, including monetary policy formulation, financial regulation, and economic research.
Previous Appointments
Prior to Murmu, M. Rajeshwar Rao served as the Deputy Governor, contributing to the RBI’s initiatives in banking regulation and enforcement. His retirement marks the end of a significant era, paving the way for new leadership to steer the institution forward.
Key Takeaways from “Shirish Chandra Murmu Appointed as RBI Deputy Governor”
| No. | Key Takeaway |
|---|---|
| 1. | Shirish Chandra Murmu has been appointed as the Deputy Governor of the RBI for a three-year term starting October 9, 2025. |
| 2. | Murmu succeeds M. Rajeshwar Rao, whose tenure concludes on October 8, 2025. |
| 3. | The Appointments Committee of the Cabinet, headed by the Prime Minister, approved Murmu’s appointment. |
| 4. | Murmu is currently serving as an Executive Director at the RBI, overseeing key departments. |
| 5. | The appointment underscores the government’s focus on strengthening the leadership of central banking institutions. |
FAQs: Frequently Asked Questions
1. Who has been appointed as the new Deputy Governor of RBI?
Shirish Chandra Murmu has been appointed as the Deputy Governor of the Reserve Bank of India for a three-year term starting October 9, 2025.
2. Who did Shirish Chandra Murmu succeed as RBI Deputy Governor?
He succeeds M. Rajeshwar Rao, whose term ended on October 8, 2025.
3. Which committee approved the appointment of Shirish Chandra Murmu?
The Appointments Committee of the Cabinet (ACC), headed by the Prime Minister, approved his appointment.
4. What is the role of a Deputy Governor in RBI?
The Deputy Governor plays a crucial role in policy formulation, banking supervision, financial regulation, and ensuring financial stability.
5. What departments has Murmu managed at RBI?
Murmu has overseen critical departments, including the Department of Supervision and the Secretary’s Department.
6. Why is this appointment important for competitive exams?
Leadership changes in institutions like RBI are often asked in banking exams, civil services exams, and other government recruitment exams as part of current affairs.
7. How long is Shirish Chandra Murmu’s term as Deputy Governor?
He will serve for a term of three years starting from October 9, 2025.
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