Rohit Jain Appointed as RBI Deputy Governor

Rohit Jain has been appointed as the Deputy Governor of the Reserve Bank of India for a three-year term. He replaces T Rabi Sankar, whose extended tenure has concluded. The appointment was approved by the Appointments Committee of the Cabinet. Jain was previously the Executive Director at RBI.

The government has officially appointed Rohit Jain as the new Deputy Governor of the Reserve Bank of India (RBI) for a three-year duration. Jain succeeds T Rabi Sankar, whose term ended after an extension. This decision was confirmed by the Appointments Committee of the Cabinet, effective from May 3.

Prior to this, Jain was serving as the Executive Director at the RBI. As per the RBI Act of 1934, the central bank mandates having four deputy governors: two from its own ranks, a commercial banker, and an economist responsible for leading the monetary policy department.

The current deputy governors are Swaminathan J, Poonam Gupta, and S C Murmu. Sankar, having been initially appointed in September 2021, received a one-year extension in 2024 and again in 2025 before stepping down.