The Appointments Committee of the Cabinet (ACC) has appointed Swaminathan Janakiraman, Mananging Director, State Bank of India, to the post of Deputy Governor of the Reserve Bank of India for a period of three years from the date of joining the post or until further orders. The five-year term of current Deputy Governor MK Jain expires on June 21, 2023. He worked for SBI for almost 33 years in a variety of positions, including Chief Digital Officer and Deputy Managing Director (Finance).
Swaminathan also served in Bank’s New York Branch as Head of Trade. He held various assignments across Corporate and International Banking, Retail and Digital Banking, Finance, Branch Management and Assurance functions.
The last time a SBI MD was appointed as RBI Deputy Governor was in 2001. Then Vepa Kamesam was appointed Deputy Governor from July 1, 2001 to December 23, 2003.
RBI currently has four Deputy Governors — MK Jain, MD Patra, M Rajeshwar and T Rabi Sankar.
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