- State Bank of India Managing Director Swaminathan Janakiraman has been selected for the post of Deputy Governor in the Reserve Bank of India (RBI).
- The appointment of Swaminathan Janakiraman has been approved by the Appointments Committee of the Cabinet.
- He will replace Deputy Governor MK Jain, whose term ends on June 30.
- His tenure will be three years from the date of assuming charge or till further orders, whichever is earlier.
- Dr. M.D. Patra, MR. Rao and T. Rabi Shankar are the other three deputy governors of RBI.
- Two of the four deputy governors are traditionally chosen from among the executive directors of the RBI. One is nominated from among the chairpersons of public sector banks and the other is an economist.
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