The Appointments Committee of the Cabinet (ACC) approved Rohit Jain’s appointment as Deputy Governor of the Reserve Bank of India for three years, effective on or after May 3, a notification from the Department of Personnel and Training (DoPT) said.
Jain will succeed T Rabi Sankar, whose term ends today. Jain was appointed as an executive director of the RBI in December 2020.
Jain has, over a span of about three decades, served in supervisory, human resource management, banking, and other areas in the Reserve Bank.
As Executive Director, Jain looked after the Department of Supervision (Risk, Analytics and Vulnerability Assessment).
Jain holds a Master’s degree in Commerce and a Master’s in Business Administration, besides having earned professional qualifications, including International Certificate in Banking Risk and Regulation (ICBRR), Certified Associate of the Indian Institute of Banking and Finance (CAIIB), and Certified Bank Trainer.
Among the four Deputy Governors, two are promoted from within the ranks. S C Murmu was the other Deputy Governor who was promoted from within the ranks of the RBI in October 2025. The other two Deputy Governors selected from outside are Poonam Gupta, an economist, and Swaminathan J, a commercial banker who served as a managing director of State Bank of India.
Jain is likely to look after some of the important departments of Rabi Sankar, which included Financial Markets Regulation, Foreign Exchange, and Payment and Settlement Systems, among others. The RBI is expected to announce Jain’s portfolios shortly.
The government interviewed four executive directors for the post of Deputy Governor last month.
