Shirish Chandra Murmu appointed as RBI Deputy Governor; learn how much salary he will receive in this position.
The Central Government has appointed Shirish Chandra Murmu as the new Deputy Governor of the RBI, starting his tenure from October 9, 2025. Let's learn the details...
The Reserve Bank of India (RBI) has a new Deputy Governor. The Central Government has appointed Shirish Chandra Murmu as the new Deputy Governor of the RBI. He has been appointed for a three-year term and will begin his tenure on October 9, 2025. The Appointments Committee of the Cabinet (ACC) has approved his appointment. He will replace M. Rajeshwar Rao, whose term ends on October 8. During his tenure, Rajeshwar Rao handled several important departments, including banking regulation and supervision. This responsibility will now fall to Shirish Chandra Murmu.
Who is Shirish Chandra Murmu?
Shish Chandra Murmu currently serves as Executive Director at the Reserve Bank, overseeing the Supervision Department. According to the RBI website, Murmu oversees several key administrative functions, regulatory policies, and inter-departmental coordination within the organization.
He also plays a key role in governance matters, regulatory compliance, and internal management. His work ethic and experience have led to his selection as Deputy Governor of the RBI.
Role of a Deputy Governor in the 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 the commercial banking sector, and one economist, who oversee the Monetary Policy Department.
Each Deputy Governor has distinct responsibilities, including:
Monetary Policy
Financial Market Regulation
Banking Supervision
Enforcement of Regulatory Policies
Internal Governance and Administrative Decisions
How Much Salary Will Shirish Chandra Murmu Receive?
The Deputy Governor of the RBI receives a monthly salary of ₹2.25 lakh. Along with this, they also get other allowances and facilities available under government service.
