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The committee will be chaired by the Deputy Governor overseeing RBI’s Financial Markets Regulation Department (FMRD).
Prior to the appointment, Jain was Executive Director at the RBI.
Murmu will succeed M. Rajeshwar Rao, whose extended tenure as Deputy Governor ends on October 8, 2025.
From managing currency and credit to overseeing modern fintech ecosystems, RBI’s journey mirrors India’s own transformation -- from colonial rule to a liberalised economy.
India processed 18.4 billion UPI transactions worth Rs 24.04 lakh crore in June.
Malhotra replaces Shaktikanta Das whose six year tenure comes to an end on December 10, 2024.
