Sanjay Lohiya has been nominated to the RBI Central Board, replacing Nagaraju Maddirala.
Sanjay Lohiya joins RBI Central Board as government nominee
Sanjay Lohiya has been nominated to the RBI Central Board, replacing Nagaraju Maddirala.
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Sanjay Lohiya joins RBI Central Board as government nominee · NewsDarpan AI
The Central Government has nominated Shri Sanjay Lohiya, Secretary, Department of Financial Services, Ministry of Finance, as a Director on the Central Board of the Reserve Bank of India (RBI). This nomination replaces Shri Nagaraju Maddirala and is effective from June 11, 2026, until further orders.
Shri Sanjay Lohiya’s appointment comes as part of the government’s routine process of ensuring representation from key financial departments on the RBI’s Central Board. The Central Board is the apex decision-making body of the RBI, responsible for framing policies and overseeing the functioning of the central bank.
The Department of Financial Services, under Shri Lohiya’s leadership, plays a crucial role in managing India’s financial sector, including banking reforms, insurance, and pension schemes. His inclusion on the RBI Board is expected to strengthen coordination between the Ministry of Finance and the central bank.
Shri Nagaraju Maddirala, whom Shri Lohiya replaces, served on the RBI Central Board as part of the government’s representation. Such nominations are significant as they ensure alignment between fiscal policies and monetary strategies.
This development underscores the government’s focus on maintaining robust governance within the RBI, which is central to India’s financial stability and policy-making framework.
Source: Reserve Bank of India press release, Thu, 11 Jun 2026 19:35:00. http://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=62916