MD Swaminathan Janakiraman of the State Bank of India has been chosen to serve as the Reserve Bank of India’s (RBI) new deputy governor for a term of three years beginning on the day of his appointment. The nomination of Swaminathan was given the go-ahead by the Indian government because Mahesh Kumar Jain’s current term ends on June 22.
Mahesh Kumar Jain was chosen to serve as a deputy governor for three years in June 2018. In June 2021, he received a second two-year appointment. According to the newspaper, Jain is in charge of the department of oversight, as well as financial inclusion and development, consumer education and protection, and others.
Education of Swaminathan Janakiraman
At the University of Madras, Swaminathan earned a Bachelor of Commerce degree with a concentration in corporate accounting and banking. Then, from the Indian Institute of Banking and Finance in Mumbai, India, he completed the Certified Associate of Indian Institute of Banking, Banking & Economics programme.
Later, at the National Institute of Business Management, he earned an executive MBA in risk management and international trade finance.
Career of Swaminathan Janakiraman
In December 1988, Swaminathan began his career with State Bank of India (SBI) as a manager. In the years that followed, he held a number of positions within the company, including branch manager, chief manager, AGM & Relationship manager, VP & head of Trade Finance, deputy general manager-Financial Institutions Group, chief general manager, deputy managing director-Strategy and Chief Digital Officer, deputy MD, and finally managing director of SBI. He has spent more than 34 years working with SBI.
According to the information on his LinkedIn profile, Swaminathan Janakiraman served as a Nominee Director of SBI on the Boards of Yes Bank, Jio Payments Bank, NPCI, as well as Bank of Bhutan, an SBI JV.