UPSC Prelims Practice Questions — Govt. extends tenure of RBI Dy Governor Swaminathan

Q1. Under the Reserve Bank of India Act, 1934, which one of the following best describes the statutory position of a Deputy Governor of the Reserve Bank of India?

  • A. A member of the Central Board elected by other directors with the concurrence of the Reserve Bank's Governor
  • B. A whole-time officer of the Bank appointed by the Central Government under the RBI Act, 1934
  • C. A constitutional functionary appointed by the President of India on the advice of the Union Finance Minister
  • D. A statutory officer appointed by the Financial Stability and Development Council on the recommendation of the RBI Governor

Q2. With reference to the office of Deputy Governor of the Reserve Bank of India as constituted in 2026, consider the following persons: 1. Poonam Gupta 2. Shirish Chandra Murmu 3. M. Rajeshwar Rao 4. Rohit Jain Which of the above is/are correctly identified as a serving Deputy Governor of the Reserve Bank of India following the re-appointment of Swaminathan Janakiraman?

  1. Poonam Gupta
  2. Shirish Chandra Murmu
  3. M. Rajeshwar Rao
  4. Rohit Jain
  • A. 1 and 3 only
  • B. 2 and 4 only
  • C. 1, 2 and 4
  • D. 1, 2, 3 and 4

Q3. As per the Reserve Bank of India Act, 1934, what is the maximum number of Deputy Governors who may be appointed to the Reserve Bank of India at any given time?

  • A. Three
  • B. Four
  • C. Five
  • D. Six

Q4. With reference to the re-appointment of Shri Swaminathan Janakiraman as Deputy Governor of the Reserve Bank of India announced in June 2026, consider the following statements: 1. He has been re-appointed for a further term of two years effective 26 June 2026. 2. The re-appointment was made by the Central Board of the Reserve Bank of India in exercise of its powers under the RBI Act, 1934. 3. He was first appointed as Deputy Governor in June 2023 after serving as a Managing Director of the State Bank of India. 4. The RBI Act, 1934 permits a Deputy Governor to hold office for a term not exceeding five years at a time and to be eligible for re-appointment. Which of the statements given above is/are NOT correct?

  1. He has been re-appointed for a further term of two years effective 26 June 2026.
  2. The re-appointment was made by the Central Board of the Reserve Bank of India in exercise of its powers under the RBI Act, 1934.
  3. He was first appointed as Deputy Governor in June 2023 after serving as a Managing Director of the State Bank of India.
  4. The RBI Act, 1934 permits a Deputy Governor to hold office for a term not exceeding five years at a time and to be eligible for re-appointment.
  • A. 1 and 2 only
  • B. 2 only
  • C. 3 and 4 only
  • D. 1, 3 and 4 only

Q5. Proposals for appointment and re-appointment of Deputy Governors of the Reserve Bank of India are processed and placed before the Appointments Committee of the Cabinet by which one of the following authorities of the Union Government?

  • A. Department of Economic Affairs, Ministry of Finance
  • B. Department of Financial Services, Ministry of Finance
  • C. Department of Personnel and Training, Ministry of Personnel, Public Grievances and Pensions
  • D. Department of Expenditure, Ministry of Finance