According to a government order viewed by Reuters, Swaminathan Janakiraman was appointed deputy governor of the Reserve Bank of India on Tuesday. His appointment will last for three years beginning on the day he begins.
Mahesh Kumar Jain’s term as managing director of State Bank of India expires on June 22, and Janakiraman, who is currently in that position, will take over.
Jain was chosen to serve as a deputy governor for three years in June 2018. In June 2021, he received a second two-year appointment.
Jain is in charge of several departments, including consumer education and protection, financial inclusion and development, and oversight.
The deputy governor portfolios, however, occasionally undergo changes.
