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Centre appoints Rohit Jain as new RBI Deputy Governor
02 May 2026

The Indian government has appointed Rohit Jain as the new Deputy Governor of the Reserve Bank of India (RBI). His three-year term will begin on May 3.

Jain is currently an Executive Director at the central bank and will take over from T Rabi Sankar, who recently retired.

The allocation of his responsibilities as Deputy Governor is yet to be announced.

Jain's appointment confirmed by government notification
Official confirmation

Jain's appointment was confirmed by a government notification issued on Friday, Reuters reported.

The notice stated that he would serve as Deputy Governor for three years from May 3.

This comes after the retirement of former Deputy Governor T Rabi Sankar late last month after completing his tenure at RBI.

Brief history of Reserve Bank of India
Central bank

The Reserve Bank of India was established on April 1, 1935, under the Reserve Bank of India Act, 1934.

It was originally privately owned but became fully government-owned after nationalization in 1949.

The central bank regulates the issue of banknotes and maintains reserves to ensure monetary stability in India.

It also strives to maintain price stability while promoting economic growth through a modern monetary policy framework.