According to a report by Reuters, The government has chosen Shirish Chandra Murmu to be the Deputy Governor of the Reserve Bank of India (RBI).He will start his new job on October 9 and will work in this role for three years. Right now, Murmu is working as an Executive Director at the RBI, where he is in charge of the Supervision Department (which checks and monitors banks and financial institutions).
Murmu will take over from Rajeshwar Rao, whose time in the role ends on October 8. Rao has been looking after important areas like bank rules and regulations.
The RBI has four deputy governors, each overseeing major domains including:
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Managing money policies
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Overseeing banks
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Regulating financial markets
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Other key financial functions
Murmu’s exact duties will be announced later.
