Who is Shirish Chandra Murmu?
Today let’s talk about Shirish Chandra Murmu Biography: In September 2025, the Indian government made a significant appointment that would shape the country’s banking and financial sector for years to come. The government appointed Shirish Chandra Murmu as the new deputy governor of the Reserve Bank of India for a three-year term starting October 9, 2025. This appointment marked the culmination of a distinguished career in central banking and positioned him as one of the four deputy governors at India’s central bank.
The Appointments Committee of the Cabinet approved his appointment, with Murmu currently serving as Executive Director at the Reserve Bank of India (RBI). His elevation to deputy governor represents recognition of his expertise and leadership in banking regulation and supervision.
Shirish Chandra Murmu Biography
Shirish Chandra Murmu Current Role and Responsibilities
As the newly appointed Deputy Governor of the RBI, Shirish Chandra Murmu will succeed M Rajeshwar Rao, who has been overseeing banking regulation and related portfolios and is retiring. This succession represents a critical transition in RBI leadership, as the deputy governor position carries substantial responsibility for shaping India’s banking policy and regulatory framework.
Previously, Murmu served as Executive Director at RBI overseeing the Department of Supervision, a crucial role that involves monitoring and regulating India’s banking sector to ensure financial stability and consumer protection. His experience in this department has provided him with deep insights into the challenges and opportunities facing India’s banking system.
Shirish Chandra Murmu Professional Background at RBI
Shirish Chandra Murmu’s career at the Reserve Bank of India as Executive Director has been marked by his oversight of critical regulatory functions. The Department of Supervision, which he headed, is responsible for on-site and off-site supervision of commercial banks, ensuring they maintain adequate capital, follow prudential norms, and protect depositor interests.
His tenure as Executive Director positioned him uniquely to understand the operational challenges facing Indian banks, from managing non-performing assets to implementing new regulatory frameworks. This hands-on experience with banking supervision provides him with practical knowledge that will be invaluable in his role as deputy governor.
The RBI has a new deputy governor in Shirish Chandra Murmu (SC Murmu), currently an executive director at the central bank, who has been appointed to one of the prestigious four deputy governor positions. This appointment reflects the government’s confidence in his ability to contribute to the RBI’s leadership team during a period of significant change in India’s banking sector.
Shirish Chandra Murmu Appointment Process
The Appointments Committee of the Cabinet (ACC) approved Murmu’s appointment, marking a significant milestone in his professional career. This high-level approval process reflects the importance of the deputy governor position and the careful consideration given to selecting individuals for these critical roles.
His three-year term starting from October 9, 2025, provides him with sufficient time to implement policy initiatives and contribute to the RBI’s strategic direction. The timing of his appointment, succeeding a retiring deputy governor, ensures continuity in the RBI’s operations while bringing fresh perspectives to the leadership team.
Shirish Chandra Murmu Significance of the Deputy Governor Role
The position of RBI Deputy Governor is one of the most important in India’s financial system. As one of four deputy governors, Shirish Chandra Murmu will share responsibility for overseeing various aspects of the central bank’s operations, from monetary policy to banking regulation to payment systems.
Deputy governors at the RBI typically oversee specific portfolios, with Murmu expected to continue focusing on banking regulation and supervision given his background in the Department of Supervision. This continuity in portfolio assignment allows him to leverage his existing expertise while taking on broader strategic responsibilities.
The deputy governor position also involves representing the RBI in various national and international forums, contributing to policy discussions, and serving as a key decision-maker in the central bank’s governance structure. These responsibilities require both technical expertise and leadership skills that Murmu has demonstrated throughout his career.
Shirish Chandra Murmu Challenges and Opportunities Ahead
As Deputy Governor, Shirish Chandra Murmu will face several significant challenges and opportunities:
Banking Sector Consolidation: Overseeing the ongoing consolidation and strengthening of India’s banking sector, including public sector banks that have undergone mergers and restructuring.
Digital Banking Regulation: Developing regulatory frameworks for the rapidly evolving digital banking landscape, including fintech companies, digital payments, and cryptocurrency-related activities.
Asset Quality Management: Continuing efforts to improve asset quality across Indian banks and managing the resolution of stressed assets.
Financial Inclusion: Advancing the RBI’s financial inclusion agenda to ensure banking services reach underserved populations across India.
Global Economic Integration: Navigating India’s banking sector through global economic uncertainties and ensuring Indian banks remain competitive internationally.
Shirish Chandra Murmu Professional Expertise
Murmu’s appointment reflects his deep expertise in banking supervision and regulation, areas that are critical to maintaining financial stability in India. His experience overseeing the Department of Supervision has given him firsthand knowledge of the challenges facing Indian banks and the regulatory tools available to address them.
His technical knowledge of banking operations, combined with his understanding of regulatory frameworks, positions him well to contribute to policy discussions at the highest levels of the RBI. This combination of practical experience and regulatory expertise is essential for effective leadership in central banking.
Shirish Chandra Murmu Impact on Indian Banking
The appointment of Shirish Chandra Murmu as Deputy Governor comes at a crucial time for Indian banking. The sector is undergoing significant transformation, with technological innovation, regulatory changes, and economic challenges requiring strong leadership and clear vision.
His background in supervision suggests that his tenure may focus on strengthening regulatory oversight, improving banking governance, and ensuring that Indian banks maintain high standards of operational excellence. These priorities align with the RBI’s broader objectives of maintaining financial stability while promoting economic growth.
Shirish Chandra Murmu Looking Ahead
As Shirish Chandra Murmu begins his three-year term as RBI Deputy Governor, the banking sector and financial markets will be watching closely to see how he approaches his new responsibilities. His decisions and leadership will influence not just banking regulation but broader economic policy in India.
His appointment represents continuity in RBI leadership while also bringing the perspective of someone with deep operational experience in banking supervision. This combination of continuity and fresh thinking is essential for an institution navigating the complex challenges of modern central baThe success of his tenure will be measured not just by specific policy initiatives but by the overall health and stability of India’s banking sector, the effectiveness of regulatory oversight, and the RBI’s ability to adapt to rapidly changing financial landscapes.
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Frequently Asked Questions About Shirish Chandra Murmu
Who is Shirish Chandra Murmu and what is his new role?
Shirish Chandra Murmu (SC Murmu) is a banking professional who was appointed as Deputy Governor of the Reserve Bank of India in September 2025 for a three-year term starting October 9, 2025. He was previously serving as Executive Director at the RBI, overseeing the Department of Supervision before his elevation to deputy governor.
Whom does he succeed as RBI Deputy Governor?
Shirish Chandra Murmu will succeed M Rajeshwar Rao, who has been overseeing banking regulation and related portfolios and is retiring. This succession ensures continuity in the RBI’s banking supervision functions while bringing fresh leadership to the role.
What was his role before becoming Deputy Governor?
Before his appointment as Deputy Governor, Murmu served as Executive Director at the Reserve Bank of India, specifically overseeing the Department of Supervision. This department is responsible for on-site and off-site supervision of commercial banks, ensuring they maintain regulatory compliance and financial stability.
How many deputy governors does the RBI have?
The Reserve Bank of India has four deputy governor positions, making it one of the prestigious leadership roles at India’s central bank. Shirish Chandra Murmu’s appointment fills one of these four positions, and he will work alongside the other deputy governors in guiding RBI policy and operations.
Who approved his appointment and what is the term of his service?
The Appointments Committee of the Cabinet (ACC) approved Murmu’s appointment as RBI Deputy Governor. His term is for three years, starting from October 9, 2025, providing him with sufficient time to implement policy initiatives and contribute to the RBI’s strategic direction in banking supervision and regulation.
Conclusion
Shirish Chandra Murmu’s appointment as Deputy Governor of the Reserve Bank of India represents a significant milestone both for his personal career and for India’s banking sector. His elevation from Executive Director to one of the four deputy governors reflects recognition of his expertise in banking supervision and his potential to contribute to the RBI’s leadership at the highest level.
His background in overseeing the Department of Supervision provides him with practical, hands-on knowledge of the challenges facing India’s banking sector. This experience will be invaluable as he takes on broader responsibilities that extend beyond supervision to encompass policy-making, strategic planning, and representing the RBI in various national and international forums.
The timing of his appointment is particularly significant, coming at a period when India’s banking sector faces numerous challenges and opportunities. From managing the digital transformation of banking to ensuring financial inclusion, from maintaining asset quality to navigating global economic uncertainties, the RBI’s leadership team must address complex issues that will shape the future of Indian finance.
His three-year term provides sufficient time to make meaningful contributions to RBI policy and to implement initiatives that could have lasting impact on India’s banking sector. The continuity he provides in banking supervision, combined with the fresh perspectives he brings to the deputy governor role, positions the RBI well for the challenges ahead.
As he begins his tenure, Shirish Chandra Murmu joins a distinguished line of RBI deputy governors who have played crucial roles in shaping India’s financial system. His success will be measured not just by specific achievements but by the overall health of India’s banking sector, the effectiveness of regulatory oversight, and the RBI’s ability to balance stability with innovation in an rapidly evolving financial landscape.
Note: This biography is based on publicly available information about Shirish Chandra Murmu’s recent appointment as RBI Deputy Governor. More detailed personal and career information may become available as he assumes his new role.