RBI Announces New Portfolio Allocation Among Deputy Governors

The Reserve Bank of India (RBI) has announced a fresh restructuring of portfolios among its deputy governors following the appointment of Shirish Chandra Murmu as the new deputy governor. The new allocation of responsibilities will take effect from October 9, 2025, the central bank said in an official statement.

Shirish Chandra Murmu Gets Key Departments

Murmu, who recently took charge as deputy governor, will oversee some of the RBI’s most crucial wings. His new responsibilities include the Department of Communication, Department of Government and Bank Accounts, the Department of Regulation, and the Enforcement Department.

These departments play a vital role in policy communication, regulatory oversight, and coordination between the central bank and government bodies.

Murmu’s appointment marks a key reshuffle aimed at strengthening the RBI’s administrative and regulatory framework.

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Rabi Sankar Retains Market and Tech Functions

Deputy Governor T. Rabi Sankar will continue to handle major market and technology-related portfolios. His departments include the Department of Payment and Settlement Systems, Fintech Department, Foreign Exchange Department, and the Internal Debt Management Department.

He will also remain in charge of the Department of Currency Management and Information Technology, ensuring smooth operations in both financial markets and digital infrastructure.

Swaminathan Janakiraman to Oversee Supervision and Consumer Protection

Deputy Governor Swaminathan Janakiraman will head several supervisory and consumer-centric divisions. His portfolio includes the Department of Supervision, Consumer Education and Protection Department, and the Deposit Insurance and Credit Guarantee Corporation (DICGC).

Additionally, he will oversee the Legal Department and the Human Resource Management Department, making him responsible for both governance and internal efficiency within the RBI.

His role strengthens the RBI’s focus on financial stability, consumer protection, and effective supervision of banking institutions.

Poonam Gupta to Lead Research and Policy Departments

Deputy Governor Poonam Gupta has been assigned the RBI’s research and policy portfolio. She will lead the Department of Economic and Policy Research, Monetary Policy Department, and Financial Stability Department, among others.

These wings are central to formulating and evaluating economic and monetary strategies, helping the central bank navigate evolving domestic and global challenges.

Reshuffle Aims to Enhance Coordination and Efficiency

The latest reshuffle is seen as a move to optimize coordination and operational efficiency within the RBI. Each deputy governor’s portfolio now aligns with their expertise, ensuring balanced distribution of regulatory, supervisory, and policy responsibilities.

With the inclusion of Shirish Chandra Murmu, the RBI’s top management team now has clearly defined functional areas that will help the central bank strengthen governance, improve regulatory oversight, and ensure seamless policy execution.

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