Shirish Murmu assumes RBI deputy governor and Hansda as Executive director

Shirish Chandra Murmu on Thursday assumed charge as the Deputy Governor of the Reserve Bank of India (RBI), succeeding M Rajeshwar Rao, who retired the same day. Murmu will oversee four departments, including Regulation and Enforcement, Communication, Government and Bank Accounts, and other key functions.

Murmu, a career central banker with over 33 years of experience, joined the RBI in 1991 and has held multiple positions within the institution. He has previously served as the RBI nominee director on the boards of Bank of India and Dena Bank, as well as on the board of ECGC Limited. Murmu holds a Master’s degree in Life Sciences from Jawaharlal Nehru University and is a Certified Associate of the Indian Institute of Banking (CAIIB). He has been appointed Deputy Governor for a term of three years or until further orders, whichever is earlier.

In a related development, Sanjay Kumar Hansda has been appointed as Executive Director of the RBI, effective March 3, 2025. Hansda, who rejoined the bank on October 6, 2025, after completing his deputation as Senior Advisor to the Executive Director (India) at the International Monetary Fund (IMF), will oversee the Department of Economic and Policy Research.

Hansda brings over three decades of experience covering banking, monetary and fiscal policy, interest rates, liquidity, inflation, financial and capital markets, industry and services, and national accounts. He holds a postgraduate degree in economics from Jawaharlal Nehru University and a diploma in Financial Services Management from Jamnalal Bajaj Institute of Management Studies, University of Mumbai.

With these appointments, the RBI continues to strengthen its leadership team to manage regulatory, policy, and economic functions amid evolving financial sector demands.