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The Appointments Committee of the Cabinet (ACC) has approved the appointment of Swaminathan Janakiraman, Mananging Director, State Bank of India, to the post of Deputy Governor of the Reserve Bank of India.
His appointment is for a period of three years from the date of joining the post or until further orders.
Incumbent Deputy Governor MK Jain’s five-year term ends on June 21, 2023.
Career
In a career spanning over 33 years with SBI, Swaminathan held various assignments across Corporate and International Banking, Retail and Digital Banking, Finance, Branch Management and Assurance functions.
He served SBI in various capacities including Deputy Managing Director (Finance) and Chief Digital Officer. He also served in Bank’s New York Branch as Head of Trade.
The last time a SBI MD was appointed as RBI Deputy Governor was in 2001. Then Vepa Kamesam was appointed Deputy Governor from July 1, 2001 to December 23, 2003.
RBI currently has four Deputy Governors — MK Jain, MD Patra, M Rajeshwar and T Rabi Sankar.
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