Swaminathan Janakiraman named as new RBI deputy governor

Government of India has appointed Swaminathan Janakiraman as a Deputy Governor of the Reserve Bank of India (RBI). As per an official notification, Janakiraman’s appointment is for a period of three years starting from the date of joining, or until any further orders are issued. He will be succeeding Mahesh Kumar Jain, whose tenure concludes on June 22nd.

Who is Swaminathan Janakiraman?

• Swaminathan Janakiraman currently holds the position of Managing Director at the State Bank of India (SBI), where he oversees the Corporate Banking and Subsidiaries division.
• Previously, he was responsible for the bank’s Assurance functions, which included Risk Management, Regulatory Compliance, and Stressed Assets verticals.
• According to his LinkedIn profile, Janakiraman is a seasoned banker with expertise in various areas such as Retail and Corporate Banking, International Banking, Trade Finance, Correspondent Banking & FI products, Digital Banking, and Transaction Banking products.
• He has played a crucial role in the Finance function of SBI, overseeing budgeting and performance monitoring, Capital Planning, and Investor Relations. Additionally, he has been involved in the bank’s Digital Transformation journey as the Head of the Digital Banking vertical.
• Janakiraman has also served as a nominee director of SBI on the boards of Yes Bank, Jio Payments Bank, and NPCI. Furthermore, he has represented SBI as a director in Bank of Bhutan, a joint venture of SBI.

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