The Central Government has appointed the Mr. Sanjay Lohiya, Secretary of the Department of Financial Services (DFS), as the director on the central boards of the Reserve Bank of India (RBI) and State Bank of India (SBI). Lohiya is the 1994 batch IAS Officer of the Assam-Meghalaya cadre and recently assumed the charge as DFS Secretary on 1st June, 2026.
Sanjay Lohiya Director of RBI and SBI Central Boards
The Government of India has nominated the Sanjay Lohiya to the central boards of both RBI and SBI.
He has replaced the former DFS Secretary Nagaraju Maddirala on the RBI Central Board after his retirement in May 2026.
SBI has also confirmed through the regulatory filing that Lohiya has been appointed as the director on the its Central Board with immediate effect.
This move ensures the continued representation of the Department of Financial Services in the major financial sector institutions.
Who is Sanjay Lohiya?
Sanjay Lohiya is a 1994-batch Indian Administrative Service (IAS) officer and belonging to the Assam-Meghalaya cadre.
He took charge as the Secretary of the Department of Financial Services on June 1, 2026.
Over the years, he has held the several important administrative positions at both the state and central levels.
As DFS Secretary, he oversees policy matters related to the,
- Public Sector Banks (PSBs)
- Financial Institutions
- Insurance Companies
- Financial Inclusion Initiatives
- Banking Sector Reforms
Role of the Department of Financial Services
The Department of Financial Services functions under the Ministry of Finance and it serves as the nodal department for the India’s banking and financial sector.
Its responsibilities includes the,
- Oversight of Public Sector Banks
- Regulation-related coordination
- Insurance sector administration
- Pension reforms
- Financial inclusion programmes
- Banking sector modernization
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