Mr. Rohit Jain gets Appointed as Deputy Governor of RBI

• 04 May 2026
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Mr. Rohit Jain has been appointed as a Deputy Governor of the Reserve Bank of India (RBI) for a three-year term w.e.f 3 May 2026. Previously, he served as an Executive Director at the RBI from December 2020. Mr. Jain has succeeded former Deputy Governor Mr. T Rabi Sankar, who retired in April after he completed his tenure at the Central Bank. 

Mr. Sankar was first appointed as Deputy Governor in September 2021 for a three-year term. He received a one-year extension in 2024 and again in 2025. 

Requirement for 4 Deputy Governors

According to the Reserve Bank of India (RBI) Act of 1934, the central bank is required to have four deputy governors. These include two individuals from within the RBI, one commercial banker and one economist who leads the monetary policy department. The current deputy governors are Mr. Swaminathan J, Mrs. Poonam Gupta and Mr. S.C. Murmu. 

Management of Portfolios by Newly Appointed Deputy Governor Mr. Jain

As per the reports, Mr. Jain is anticipated to manage key portfolios that were earlier managed by former Deputy Governor Mr. Sankar. These portfolios include financial markets regulation, foreign exchange, and payment and settlement mechanisms, key areas that influence liquidity, currency management and digital payments in India. However, the RBI will formally announce his exact responsibilities in the next few days. 

Career Background & Experience of Mr. Jain

Within the RBI, Mr. Rohit Jain has been serving for nearly three decades and handled diverse portfolios. He specializes in banking supervision, financial regulation and institutional oversight. 

From 2020 until his appointment as Deputy Governor yesterday, he served as the Executive Director of RBI and was responsible for important supervisory functions, especially in the monitoring of banking operations and ensuring financial stability.

Educational Background of Mr. Rohit Jain

Mr. Rohit Jain, the newly appointed RBI Deputy Governor, is a highly educated professional who holds degrees as well as certifications. He holds a Master’s Degree in Commerce as well as an MBA Degree. 

Apart from these degrees, he also possesses many professional certifications like the International Certificate in Banking Risk and Regulation (ICBRR) and Certified Associate of the Indian Institute of Banking and Finance (CAIIB). He is a Certified Bank Trainer. 

Selection Process for Appointment as Deputy Governor

During the selection process in April 2026, Mr. Jain was chosen as the preferred candidate by senior Executive Directors like Mr. Vivek Deep, Mr. Radha Shyam Ratho and Mr. Ajay Kumar. 

His appointment showcases Reserve Bank of India’s tradition of promoting experienced internal candidates to top leadership positions. Jain is now one of the Deputy Governors who has been elevated from within the Central Bank.