Mumbai: The Central Government has reappointed Swaminathan Janakiraman as Deputy Governor of the Reserve Bank of India (RBI) for a further term of two years, effective June 26, 2026.
Janakiraman, a seasoned banker and former Managing Director of State Bank of India (SBI), was first appointed as RBI Deputy Governor in 2023. Since joining the central bank, he has been responsible for overseeing key areas including supervision and inspection, playing a crucial role in strengthening regulatory oversight across the banking and financial services sector.
With the extension, Janakiraman will continue to serve under RBI Governor Sanjay Malhotra, alongside fellow Deputy Governors Poonam Gupta, Shirish Chandra Murmu, and Rohit Jain.
Before moving to the RBI, Janakiraman spent over three decades at SBI, holding several leadership positions across retail banking, corporate banking, treasury, and risk management. His extensive experience in the banking sector has been instrumental in supporting the RBI’s efforts to enhance financial stability, strengthen governance standards, and improve supervisory mechanisms.
The reappointment comes at a time when the Indian financial system is witnessing rapid digital transformation, evolving regulatory requirements, and growing emphasis on risk management and financial resilience. Industry observers view the extension as a sign of continuity in the RBI’s supervisory and regulatory agenda.
During his tenure, Janakiraman has been closely associated with initiatives aimed at improving compliance, strengthening banking sector oversight, and ensuring the stability of the financial ecosystem. His continued presence on the RBI’s top leadership team is expected to support the central bank’s ongoing focus on maintaining a robust and well-regulated financial sector.
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The extension underscores the government’s confidence in Janakiraman’s leadership and expertise as the RBI navigates a rapidly changing financial landscape while safeguarding economic and banking system stability.
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