Govt appoints SBI MD Swaminathan Janakiraman as RBI deputy governor

India’s government on Tuesday appointed Swaminathan Janakiraman as a deputy governor of the Reserve Bank of India for three years from the date of joining, according to an order seen by Reuters.

Janakiraman, currently the managing director of State Bank of India, will succeed Mahesh Kumar Jain, whose tenure ends on June 22.

Jain was appointed as a deputy governor in June 2018 for three years. He was re-appointed in June 2021 for a further two-year period.

Jain is in-charge of the department of supervision, financial inclusion and development, consumer education and protection, among others.

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The deputy governor portfolios, however, can see a tweak from time to time.