Govt appoints Shirish Chandra Murmu as RBI deputy governor

The government has appointed Shirish Chandra Murmu as a deputy governor of the Reserve Bank of India, according to a government notice.

Murmu's appointment will take effect from October 9 for a period of three years, the notice said. 

He is currently serving as an executive director at the central bank.

Murmu will replace Rajeshwar Rao, who is currently the deputy governor in-charge of banking regulation and other portfolios. Rao's term ends on October 8.

The central bank has four deputy governors, spanning departments including monetary policy, financial markets regulations, banking supervision and regulations.

Murmu's portfolio allocation has yet to be announced.