New Delhi: The Central Government on Tuesday appointed Swaminathan Janakiraman as the Deputy Governor of the Reserve Bank of India (RBI). He will serve for three years or until further orders. Janakiraman has replaced Mahesh Kumar Jain. Jain’s term ended on June 22.
RBI consists of a total of four deputy governors. Michael Debabrata Patra, M Rajeswara Rao and T Rabi Shankar are already serving their duty and now Swaminathan Janakiraman will join as their 4th counterpart.
Know who is Swaminathan
Swaminathan Janakiraman is currently serving as the Managing Director of the State Bank of India (SBI). He has been working in SBI for 30 years.
During his career, Swaminathan has handled various assignments in SBI including Retail & Corporate Banking, International Banking, and Trade Finance.
Janakiraman is part of the digital transformation journey of the SBI as head of the digital banking vertical. Previously, He has worked with Yes Bank, Jio Payments Bank, NPCI as well as Bank of Bhutan.
Mahesh Kumar Jain held the post in 2018
Mahesh Kumar Jain took over as the deputy governor for three years in June 2018. On completion of three years, his tenure was extended for a further period of two years in 2021. His term ends on June 22.