Rohit Jain appointed RBI deputy governor for three-year term

NEW DELHI: The Appointments Committee of the Cabinet has approved the appointment of Rohit Jain as deputy governor of the Reserve Bank of India for a three-year term, according to a notification issued by the Department of Personnel and Training.

Jain will take charge on or after May 3, succeeding T Rabi Sankar, whose tenure concludes this week.

A career central banker, Jain brings over three decades of experience at the RBI, having worked across supervision, human resource management and core banking functions. He was appointed executive director in December 2020 and most recently oversaw the Department of Supervision, focusing on risk, analytics and vulnerability assessment.

Within the RBI’s leadership, Jain becomes one of the deputy governors elevated from within the institution, alongside SC Murmu, who was promoted in October 2025. The central bank’s deputy governor bench also includes Poonam Gupta and Swaminathan J, both appointed from outside the organisation.

Jain holds a master’s degree in commerce and an MBA, along with professional certifications such as the International Certificate in Banking Risk and Regulation and the Certified Associate of the Indian Institute of Banking and Finance qualification.

He is expected to take on portfolios previously handled by Rabi Sankar, including financial markets regulation, foreign exchange and payment and settlement systems, though the RBI is likely to formally allocate responsibilities in the coming days.

His appointment follows a selection process in April, during which multiple executive directors were considered for the role before Jain was finalised.

With his deep institutional experience and background in risk and supervision, Jain’s elevation comes at a time when the RBI continues to balance financial stability with the rapid evolution of India’s digital payments and market ecosystem.