Rohit Jain appointed RBI deputy governor for three-year term

The Indian government has appointed Rohit Jain as deputy governor of the Reserve Bank of India for a period of three years, Reuters reported, citing a government notification issued on Friday.

Jain’s appointment will take effect from May 3. He is currently serving as an executive director at the central bank.

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His portfolio allocation as deputy governor is yet to be announced.

Jain succeeds former deputy governor T Rabi Sankar, who retired late last month after completing his tenure at the RBI.

According to the RBI Act, 1934, the central bank should have four deputy governors, two from within the ranks, one commercial banker and an economist to head the monetary policy department.

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The other three deputy governors are Swaminathan J, Poonam Gupta and S C Murmu.

Rabi Sankar was first appointed Deputy Governor in September 2021 for three years and was given a one-year extension in 2024 and subsequently in 2025.