Mumbai, May 2: The Government of India has appointed Rohit Jain as the new Deputy Governor of the Reserve Bank of India (RBI), according to an official notification released on Friday.
Jain’s appointment will come into effect from May 3 and will be for a tenure of three years, the government stated.
Currently serving as an Executive Director at the RBI, Jain brings extensive experience within the central bank. However, his specific portfolio and responsibilities as Deputy Governor are yet to be announced.
He succeeds T. Rabi Sankar, who retired late last month after completing his term.
The appointment comes at a crucial time for India’s financial system, as the central bank continues to navigate inflation management, digital currency initiatives, and global economic uncertainties.