RBI Announces Appointment of Usha Janakiraman as Executive Director

The Reserve Bank of India (RBI) has announced that Usha Janakiraman has been appointed as its new Executive Director (ED) from 1 December 2025. With this promotion, she becomes part of the senior leadership team that plays a key role in shaping India’s banking regulation and financial stability.

Who Is Usha Janakiraman?

Usha Janakiraman is a highly experienced central banker and a Chartered Accountant by qualification. She has worked with the RBI for over 30 years, handling some of the most important areas of the central bank such as:

• Banking regulation and supervision
• Public debt management
• Currency operations
• External investments
• Key policy and administrative roles

Before becoming an Executive Director, she served as the Chief General Manager-in-Charge in RBI’s Department of Regulation at the Central Office in Mumbai. Her work largely revolved around setting rules and frameworks that ensure banks operate safely and responsibly.

What Will She Handle as Executive Director?

As Executive Director, she will lead the Department of Supervision – Risk, Analytics and Vulnerability Assessment (RAVA). This department is responsible for:

• Monitoring risks across banks
• Using data and analytics to identify early signs of stress
• Strengthening RBI’s surveillance and early-warning systems
• Improving supervision to prevent financial crises

In simple words, she will be responsible for keeping a close watch on banks, spotting risks early, and helping RBI take timely action.

Why Her Appointment Matters

The recent appointment marks a significant development for India’s financial regulatory framework, as it brings renewed strength to the Reserve Bank of India’s supervisory and oversight functions. At a time when the banking and fintech landscape is expanding rapidly, her leadership is expected to enhance risk management, improve data-driven monitoring, and ensure continuity at the highest levels of the RBI’s operations.

1. Strong Focus on Risk & Stability

India’s financial system is rapidly evolving, with new types of risks emerging from digital lending, NBFCs, fintech partnerships, and global markets. Her role will help strengthen RBI’s risk tracking and ensure banks stay financially healthy.

2. Data-Driven Supervision

With the growing use of technology and data, RBI is shifting from traditional supervision to an analytics-led approach. Her expertise will support this modernisation.

3. Continuity and Experience at Leadership Level

Having worked across multiple key departments, she brings a deep understanding of the banking ecosystem. This helps maintain stability and strong decision-making within RBI.

What This Means for India’s Banking Sector

Banks can expect closer supervision and more data-backed reviews, ensuring they follow safe lending and operational practices. Her appointment signals RBI’s continued push toward:

• Better monitoring of banking risks
• Stronger governance and compliance norms
• Early detection of vulnerabilities
• A more stable and resilient financial system