Shirish Chandra Murmu Appointed as RBI Deputy Governor Amid Rate Cut Speculations
The Appointments Committee of the Cabinet has appointed Shirish Chandra Murmu as a Deputy Governor of the Reserve Bank of India, effective October 2025. The RBI's upcoming Monetary Policy Committee meeting anticipates a potential 25 basis points repo rate cut due to declining inflation, prompting market speculation.
- Country:
- India
The Appointments Committee of the Cabinet has approved Shirish Chandra Murmu's appointment as Deputy Governor of the Reserve Bank of India (RBI). Currently the Executive Director at RBI, Murmu will assume his role for a three-year tenure from October 9, 2025, pending further instructions from the government.
The Reserve Bank of India, led by Governor Sanjay Malhotra, currently has four Deputy Governors overseeing various departments, including monetary policy and financial regulations. Established in 1935, the RBI transitioned to Mumbai in 1937 and has been state-owned since its nationalization in 1949.
As the RBI's Monetary Policy Committee (MPC) convenes, there is mounting speculation about a potential 25 basis points cut in the repo rate as inflation trends downward. Analysts anticipate this decision could boost economic growth, but the outcome remains uncertain as the meeting approaches.
(With inputs from agencies.)
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