The Reserve Bank of India (RBI) has welcomed Mr. Swaminathan Janakiraman as its newly appointed Deputy Governor. The Department of Personnel and Training officially announced his appointment on June 20th, and he assumed office on the same day. The Government of India has chosen Mr. Janakiraman to serve as Deputy Governor of the RBI for a three-year term starting from the date of his joining the post or until further orders are issued.
Prior to his appointment as Deputy Governor, Mr. Janakiraman held the position of Managing Director (Corporate Banking and Subsidiaries) at the State Bank of India (SBI). With over 34 years of experience at SBI, he has undertaken a variety of roles spanning Corporate and International Banking, Retail and Digital Banking, Finance, and Assurance functions. Notably, as MD (Corporate Banking and Subsidiaries), he oversaw SBI’s Large Corporate and Commercial Credit business, as well as its Non-Banking Subsidiaries and Regional Rural Banks (RRBs).
In his new role as Deputy Governor, Mr. Swaminathan Janakiraman will be responsible for several departments at the RBI, including Consumer Education and Protection, Department of Supervision, Financial Inclusion and Development, Inspection, Premises, and Rajbhasha. His extensive experience in banking, risk management, regulatory compliance, and digital banking will contribute to his successful leadership in these areas.
Throughout his career, Mr. Janakiraman has served in various capacities, including Deputy Managing Director – Finance, Chief Digital Officer, and Circle General Manager (CGM) of SBI’s Hyderabad Circle. Additionally, he represented SBI on the boards of Yes Bank, NPCI, NPCI International, Jio Payments Bank, and SBI’s non-banking subsidiaries. He also chaired the advisory group to the Regulations Review Authority (RRA 2.0) of the Reserve Bank of India during the 2021-22 period.
Mr. Swaminathan Janakiraman holds an Executive MBA from the National Institute of Business Management in Chennai. He is a Certified Associate of the Indian Institute of Bankers (CAIIB), a Certified Documentary Credit Specialist (CSCS), and a Certified Anti-Money Laundering Specialist (CAMS). With his vast knowledge and expertise in the banking sector, Mr. Janakiraman is well-equipped to contribute to the growth and stability of the RBI in his new role as Deputy Governor.
