Sanjay Lohia appointed as Director on the
RBI Central Board
¨
The Government of India
nominated Sanjay Lohiya, Secretary of the Department of Financial Services
(DFS), Ministry of Finance, as a Director on the Central Board of the Reserve
Bank of India.
¨
His nomination became
effective from 11 June 2026 and will remain in force until further orders.
¨
He replaced Nagaraju
Maddirala on the RBI Central Board.
¨
The Department of
Financial Services (DFS) is a department under the Ministry of Finance
responsible for banking, insurance, pensions, and financial sector
administration in India.
¨
The position of
Secretary, DFS is a senior civil service post in the Government of India.
¨
The Central Board of the
Reserve Bank of India is the apex governing body of the central bank,
constituted under the Reserve Bank of India Act, 1934.
¨
The Board consists of one
Governor, up to four Deputy Governors, four directors representing local
boards, and ten directors nominated by the Central Government.
¨ The Central Board oversees key matters related to monetary policy, banking regulation, financial stability, and the overall administration of the RBI.
¨ State Bank of India also has a Central Board constituted under the State Bank of India Act, 1955.
¨ The SBI Central Board includes government-nominated directors along with other members representing various stakeholder groups.
