Shirish Chandra Murmu appointed RBI Deputy Governor
Analysis based on 6 articles · First reported Sep 29, 2025 · Last updated Sep 30, 2025
The appointment of G. C. Murmu as Deputy Governor of the State Bank of India is a significant leadership change for the central bank. This ensures continuity in the State Bank of India's regulatory and monetary policy functions, which is generally viewed positively by financial markets.
G. C. Murmu, currently an Executive Director at the State Bank of India, has been appointed as a Deputy Governor for a three-year term, effective October 9, 2025. The Appointments Committee of the Cabinet, under the government of India, approved his appointment. G. C. Murmu will succeed M. Rajeshwar Rao, whose term as Deputy Governor ends on October 8. G. C. Murmu is expected to oversee key portfolios such as banking regulation, supervision, monetary policy, and financial market regulation, although his specific portfolio allocation is yet to be announced. The State Bank of India maintains four Deputy Governors, with the other current Deputy Governors being Deputy Governor of the Reserve Bank of India, Soumya Swaminathan, and Poonam Gupta.
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