Rohit Jain Joins as New Deputy Governor of RBI

The government has appointed Rohit Jain as the new Deputy Governor of the Reserve Bank of India for a three-year term, replacing T Rabi Sankar. Jain, currently an Executive Director at RBI, assumes the role on or after May 3. His appointment follows the end of Sankar's extended tenure.

In a significant move, Rohit Jain has been appointed as the new Deputy Governor of the Reserve Bank of India for a tenure extending three years. The Appointments Committee of the Cabinet granted approval for his position after T Rabi Sankar's extended stint concluded on Saturday.

Jain, who holds the position of Executive Director at the RBI, will officially step into his new role on or after May 3, according to governmental sources released on Monday. This selection is in line with the RBI Act, 1934, which stipulates the presence of four deputy governors, including one commercial banker and an economist for the monetary policy department.

The trio of other current deputy governors includes Swaminathan J, Poonam Gupta, and S C Murmu. Jain's predecessor, Rabi Sankar, initially took up the deputy governor role in September 2021 and received extensions in 2024 and later in 2025.