DELHI 8:30 PM IST – The Reserve Bank of India has appointed Smt. Usha Janakiraman is the new Executive Director (ED) with effect from 1 Dec 2025. She isn’t just a CA on paper — she has grown up inside RBI’s most critical departments. As per the RBI’s recent press release, she now steps into one of the most influential roles in India’s financial regulation landscape.
A Supervision Expert Takes Charge
Janakiraman has spent over 30 years inside RBI. She worked on almost every aspect – such as key functions like regulation, banking supervision, external investments, public debt management and currency operations. That’s the kind of portfolio only a few RBI leaders can claim.
Now, she will lead the Department of Supervision. The Risk, Analytics & Vulnerability Assessment. The department quietly ensures that India’s financial institutions don’t slip into crisis territory. It is the first line of defence between a healthy banking system and a systemic shock.
Why RBI make this move now
It’s not a routine promotion. It comes when the banking engine is running faster than ever — maybe a bit too fast:
- The credit cycle is expanding sharply
- Retail lending is growing faster than incomes
- Fintech banks are experimenting aggressively
- Global financial systems are absorbing new shocks
RBI seems to be saying —
“We love innovation, but we won’t tolerate cracks beneath the surface.”
Possible implications for 2026
| Area | What could change next |
|---|---|
| Digital lending & fintech loans | Stronger guardrails, more compliance audits |
| Risk scoring & capital | Banks may face stricter provisioning and analytics-driven checks |
| Credit appetite | Growth remains — but high-risk segments will get closely watched |
| Market confidence | Stable regulation → better trust from depositors & investors |
This is where her CA background will become potent: bringing financial discipline right to the frontline of bank risk supervision.
If 2024–25 was about expanding digital finance and credit flows, then 2026 will be about supervising that growth intelligently. Janakiraman’s elevation reflects the evolving DNA of RBI. not conservative, but responsibly progressive.
Archive – RBI Issues New Digital Banking Directions: What Will Change for Users and Banks by 2026?
