The Appointments Committee of the Cabinet (ACC) has approved the appointment of Rohit Jain as Deputy Governor of the Reserve Bank of India for a tenure of three years, effective on or after May 3, according to a government notification.
Jain will succeed T Rabi Sankar, whose term concludes this week. He was serving as an Executive Director at the RBI since December 2020.
With a career spanning nearly three decades at the central bank, Jain has worked across key areas including banking supervision, risk analytics, and human resource management. In his most recent role, he oversaw the Department of Supervision, focusing on risk, analytics, and vulnerability assessment.
Jain holds a Master’s degree in Commerce and an MBA, along with professional certifications such as ICBRR, CAIIB, and Certified Bank Trainer.
His appointment reinforces the RBI’s practice of promoting internal candidates to senior leadership roles. Among the four Deputy Governors, two including S C Murmu have been elevated from within the organisation. The remaining positions are held by external appointees, including economist Poonam Gupta and banker Swaminathan J.
Jain is expected to take charge of key portfolios previously handled by Sankar, including financial markets regulation, foreign exchange, and payment and settlement systems, though the RBI is yet to formally announce the allocation.
The government had reportedly interviewed four executive directors for the role before finalising Jain’s appointment.
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