Government Appoints Swaminathan Janakiraman As RBI Deputy Governor

SBI managing director Swaminathan Jankiraman appointed Reserve Bank Deputy Governor

New Delhi:

The government today appointed State Bank of India (SBI) managing director Swaminathan Jankiraman as Reserve Bank Deputy Governor (DG).

According to an official notification, the appointment is for a period of three years from the date of joining the post of Deputy Governor or until further order.

A Cabinet Secretary-headed panel interviewed shortlisted candidates on June 1 for the post of RBI Deputy Governor in place of MK Jain, completing his extended tenure on Tuesday.

One post of Deputy Governor is reserved for a commercial banker.

According to the RBI Act, 1934, the central bank should have four Deputy Governors – two from within the ranks, one commercial banker and an economist to head the monetary policy department.

The other three deputy governors are Michael Debabrata Patra, M Rajeshwar Rao and T Rabi Sankar.

The Deputy Governor appointments are made for an initial period of three years, and the person is eligible for reappointment.

The Deputy Governor gets a fixed salary of Rs 2.25 lakh per month plus allowances.
 

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