Swaminathan J took charge as RBI Deputy Governor

Shri Swaminathan J took charge as the Deputy Governor of the Reserve Bank of India today. The Government of India, on June 21, 2023, has appointed him to the post of Deputy Governor, Reserve Bank of India, for a period of three years from the date of joining the post or until further orders, whichever is earlier.

Shri Swaminathan was the Managing Director (Corporate Banking and Subsidiaries) of the State Bank of India (SBI) before being appointed as Deputy Governor.

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As Deputy Governor, Shri Swaminathan will look after the Consumer Education and Protection Department, Department of Supervision, Financial Inclusion and Development Department, Inspection Department, Premises Department and Rajbhasha Department.

In a career with SBI spanning over 34 years, Shri Swaminathan has held various assignments across Corporate and International Banking, Retail and Digital Banking, Finance and Assurance functions.

As MD (Corporate Banking and Subsidiaries), he oversaw the Large Corporate and Commercial Credit business of the Bank along with the Non-Banking Subsidiaries of SBI and RRBs. Prior to this, as MD (Risk, Compliance and Stressed Asset Resolution Group), he was looking after the Risk Management functions as well as the Regulatory Compliance framework for SBI.

Earlier, as Deputy Managing Director – Finance, he handled Budgeting, Capital Planning, Financial Reporting, Investor Relations and Secretarial Compliance. As SBI’s Chief Digital Officer, Shri Swaminathan oversaw the Digital & Transaction Banking verticals of the Bank. As a CGM, Shri Swaminathan was the head of SBI’s Hyderabad Circle.

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As SBI's nominee, Shri Swaminathan was a Director on the Boards of Yes Bank, NPCI, NPCI International, and Jio Payments Bank and on the Board of non-banking subsidiaries of SBI. Shri Swaminathan also served as chair of the advisory group to the Regulations Review Authority (RRA 2.0) of the Reserve Bank of India during 2021-22.

Shri Swaminathan has an Executive MBA from the National Institute of Business Management, 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).

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