RBI Appoints S Somanath, Reappoints Anand Mahindra to Central Board

The Reserve Bank of India has named former chairman of the Indian Space Research Organisation, S Somanath, and reappointed Anand Mahindra, chairman of the Mahindra Group, as part-time, non-official directors of the RBI Central Board. Both the appointments were made effective from August 20, 2026, for a term of four years or until further orders, whichever is earlier. Expertise in the space technology and industry/business will be added to the board of RBI which controls the affairs of the apex monetary authority of India.

Appointment of S Somanath as RBI Director

The Central Government has appointed S Somanath Sreedhara Panicker, better known as S Somanath, as a part-time, non-official director of the RBI Central Board.

Somanath is an eminent aerospace engineer and had been working as the chairman of ISRO prior to his retirement in January 2025. In the course of his career, he has served in many significant positions in the space program of India.

His appointment to the board of RBI came into force from August 20, 2026, and the four-year term shall continue till further orders from the government.

Reappointment of Anand Mahindra to the RBI Board

The Central Government has further reappointed Anand Mahindra as a part-time, non-official director of the RBI Central Board.

His four-year term in the RBI board started from August 20, 2026. He represents corporate and industrial experience of India in the RBI board.

It is pertinent to mention that the composition of statutory board of RBI involves official directors as well as nominees as non-official directors.

Who are other RBI Central Board Members?

With the recent appointment, RBI Central Board now has 11 members. The Governor of the RBI is Sanjay Malhotra, and the Deputy Governors are Swaminathan J, Poonam Gupta, Shirish Chandra Murmu, and Rohit Jain.

The remaining members include Revathy Iyer, Sachin Chaturvedi, Anuradha Thakur, Sanjay Lohiya, along with the newly appointed Somanath and Mahindra, who got his term renewed.

According to RBI Act, the Central Board of Directors are appointed by the Government of India and serves for four years.