Swaminathan Janakiraman takes over as new Deputy Governor of RBI

Swaminathan Janakiraman took over as Deputy Governor of the Reserve Bank of India (RBI) on Monday, June 26. He was appointed by the Government of India for a period of three years or until further orders. Prior to his appointment as Deputy Governor, Swaminathan was the State Bank of India's (SBI) Managing Director (Corporate Banking and Subsidiaries).

As per the official release, he will be in charge of the Consumer Education and Protection Department, the Department of Supervision, the Financial Inclusion and Development Department, the Inspection Department, the Premises Department, and the Rajbhasha Department as Deputy Governor.

RBI Deputy Governor Swaminathan Janakiraman's career so far

He has worked at SBI for 34 years, holding various positions in Corporate and International Banking, Retail and Digital Banking, Finance, and Assurance. As MD (Corporate Banking and Subsidiaries), he was in charge of the bank's Large Corporate and Commercial Credit businesses, as well as the Non-Banking Subsidiaries of SBI and RRBs. Previously, as MD (Risk, Compliance, and Stressed Asset Resolution Group), he was in charge of SBI's Risk Management operations as well as the Regulatory Compliance framework.

Previously, as Deputy Managing Director (Finance), he was in charge of budgeting, capital planning, financial reporting, investor relations, and secretarial compliance. He supervised SBI's Digital and Transaction Banking sectors as Chief Digital Officer. 

He also served as the Chief General Manager (CGM) of SBI's Hyderabad Circle. He served as SBI's nominee on the boards of Yes Bank, NPCI, NPCI International, Jio Payments Bank, and SBI's non-banking companies. During 2021–22, he also served as chair of the Reserve Bank of India's Regulations Review Authority (RRA 2.0).

RBI Deputy Governor Swaminathan Janakiraman: Education

He graduated from the National Institute of Business Management in Chennai with an Executive MBA. He is a CAIIB Certified Associate, a CSCS Certified Documentary Credit Specialist, and a CAMS Certified Anti-Money Laundering Specialist.

Changes in the portfolios of RBI's Deputy Governors 

Deputy Governor Dr. M.D. Patra is now in charge of the Co-ordination, Corporate Strategy, and Budget Departments, the Department of Economic and Policy Research, the Department of Statistics and Information Management, the Deposit Insurance and Credit Guarantee Corporation, the Financial Markets Operations Department, Financial Markets Regulation Department, Financial Stability Department, International Department, Monetary Policy Department, and the Secretary’s Department.

Deputy Governor M Rajeshwar Rao is now in charge of the Department of Regulation, Department of Communication, Enforcement Department, Legal Department, and Risk Monitoring Department.

Deputy Governor T Rabi Sankar is now in charge of the Central Security Cell, Department of Currency Management, Department of External Investments and Operations, Department of Government and Bank Accounts, Department of Information Technology, Department of Payment and Settlement Systems, Fintech Department, Foreign Exchange Department, Human Resource Management Department, Internal Debt Management Department and Right to Information (RIA) Division.

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