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The Reserve Bank of India (RBI) has got the new deputy governor. The central government has appointed Shirish Chandra Murmu as the new deputy governor of RBI. He has been appointed for three years and his responsibility will start from 9 October 2025. The Cabinet’s Appointment Committee (ACC) has approved his appointment. He will replace M. Rajeshwar Rao, whose term ends on 8 October. Rajeshwar Rao took over the responsibility of several important departments including banking regulation and supervision during his tenure. Now this responsibility will be on the shoulders of Shirish Chandra Murmu.
Who is Shirish Chandra Murmu?
Shirish Chandra Murmu is currently working as Executive Director in the Reserve Bank. He is handling the responsibility of the Supervision Department. According to the RBI website, Murmu takes care of the organization’s many important administrative works, regulatory policies and inter-departal coordination.
Apart from this, they also play an important role in governance related matters, regulatory compliance and internal management. Due to his working style and experience, he has been elected deputy governor of RBI.
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Deputy Governor’s role in RBI
According to the RBI Act 1934, the Reserve Bank of India has a total of four deputy governors. Two of these are RBI officials, one from a commercial banking sector and an economist who looks at the Monetary Policy Department.
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Each deputy governor has different responsibilities, including-
- Monetary Policy
- Financial Market Regulation
- Banking supervision
- Following regulatory policies
- Internal governance and administrative decisions
How much will Shirish Chandra Murmu get salary?
The Deputy Governor of RBI gets a salary of 2.25 lakhs every month. Along with this, they also get other allowances and facilities available under government service.
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