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New Delhi: Rohit Jain has been appointed as the new Deputy Governor of the Reserve Bank of India, replacing T Rabi Sankar, whose tenure has come to an end.

The appointment was approved by the Appointments Committee of the Cabinet (ACC) and will be effective on or after May 3, 2026. According to a notification issued by the Department of Personnel and Training (DoPT), Jain will serve a term of three years in the key role at India’s central bank.

Experienced central banker takes charge

Rohit Jain brings with him over three decades of experience within the Reserve Bank of India. During his career, he has worked across multiple domains, including banking supervision, risk assessment, human resource management, and financial regulation.

Before his elevation, Jain served as an Executive Director at the RBI, a position he assumed in December 2020. In that role, he was responsible for overseeing critical functions within the Department of Supervision, particularly in areas to risk, analytics, and vulnerability assessment.

His extensive background in regulatory oversight is expected to strengthen the RBI’s supervisory framework at a time when the financial sector is navigating evolving risks and global uncertainties.

Academic and professional credentials

Jain holds a Master’s degree in Commerce and a Master’s in Business Administration. He also possesses several professional certifications in banking and finance, including the International Certificate in Banking Risk and Regulation (ICBRR).

In addition, he is a Certified Associate of the Indian Institute of Banking and Finance (CAIIB) and a Certified Bank Trainer, reflecting his expertise in both practical and academic aspects of the banking sector.

Role within RBI leadership structure

The Reserve Bank of India operates with one Governor and four Deputy Governors, each overseeing specific functional areas. As per the provisions of the Reserve Bank of India Act, 1934, the composition typically includes:

• Two Deputy Governors promoted from within the RBI
• One Deputy Governor from the commercial banking sector
• One economist, usually heading monetary policy functions

Rohit Jain’s appointment falls under the category of internal promotions, reinforcing the RBI’s tradition of elevating experienced officials from within its ranks.

Currently, other Deputy Governors include Poonam Gupta and Swaminathan J, among others.

Transition and continuity

Jain succeeds T Rabi Sankar, who played a significant role in areas such as currency management, payments systems, and digital initiatives during his tenure.

The transition is expected to ensure continuity in policy implementation and regulatory oversight, particularly as the RBI continues to focus on financial stability, digital transformation, and strengthening the banking ecosystem.

Conclusion

Rohit Jain’s appointment as Deputy Governor marks a key leadership change at the RBI. With his extensive experience in supervision and risk management, he is likely to play a crucial role in shaping India’s banking and financial landscape over the next three years.