Mumbai: The Reserve Bank of India (RBI) announced a significant reshuffle in the portfolios of its four deputy governors on Friday, following the assumption of charge by Dr. Poonam Gupta, who officially joined the central bank as Deputy Governor.
Dr. Gupta, who succeeds Dr. Michael Debabrata Patra (retired in January), will now head the crucial Monetary Policy Department, positioning her at the heart of India’s economic steering mechanism.
In addition to monetary policy, she will also oversee seven other key departments, including Corporate Strategy and Budget, Communication, and Financial Stability, underscoring her influential role in shaping the RBI’s policy and public engagement frameworks.
Deputy Governor M Rajeshwar Rao, who had temporarily managed the monetary policy brief after Dr. Patra’s retirement, has now been reassigned. His new responsibilities span six departments, notably Coordination, Regulation, Enforcement, and Risk Monitoring, reflecting a shift toward institutional oversight and regulatory management.
T Rabi Sankar retains one of the broadest portfolios among the deputy governors, continuing to manage 12 departments. His areas include Central Security Cell, Information Technology, Payment and Settlement Systems, Foreign Exchange, and FinTech, maintaining his pivotal role in RBI’s digital and technological advancement.
Meanwhile, Swaminathan Janakiraman has been entrusted with departments critical to banking supervision and consumer trust, including Consumer Education, Supervision, Inspection, and four other departments focused on the functioning and integrity of banking operations.
The reshuffle reflects a strategic alignment of responsibilities among the central bank’s top brass, ensuring continuity and focus in navigating India’s dynamic economic landscape.
