Rohit Jain appointed RBI deputy governor
May 02, 2026
Rohit Jain, a Reserve Bank of India executive director, has been appointed deputy governor. His term begins on or after May 3, 2026, and will last for three years. Jain has served the central bank for three decades. He replaces T Rabi Sankar. Jain is one of two deputy governors promoted from within the RBI.
Synopsis
Rohit Jain, a Reserve Bank of India executive director, has been appointed deputy governor. His term begins on or after May 3, 2026, and will last for three years. Jain has served the central bank for three decades. He replaces T Rabi Sankar. Jain is one of two deputy governors promoted from within the RBI.
The appointments committee of the cabinet has approved the appointment of Reserve Bank of India (RBI) executive director (ED) Rohit Jain as deputy governor (DG) of the banking regulator.
The appointment is for a period of three years from the date of joining the post on or after May 3, 2026, the Department of Personnel (DoP) said in a notification on Saturday.
Also Read: RBI steps up play in us treasuries, other securities
Jain has spent about 30 years at the central bank with RBI handling several functions including banking supervision which he was incharge of as ED before this appointment.
Jain will replace T Rabi Sankar, whose tenure ended on Saturday after two extensions granted in 2024 and 2025. Sankar was also a career central banker and took over as deputy governor in 2021.
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Vivek Deep, Rohit Jain, Radha Shyam Ratho and Ajay Kumar were the sernior most executive directors in the fray for the DG post. Jain has been a RBI ED since December 2020.
As senior most DG Rabi Sankar had a oversight of 12 departments including financial markets regulation, foreign exchange, risk monitoring, fintech and payment and settlement.
Also Read: RBI Governor Malhotra calls for deeper, more efficient financial markets as India shows resilience amid global headwinds
The departments managed by all DGs will most like be reshuffled after Jain takes over.
Jain becomes one of the two deputy governors promoted from within the institution, along with SC Murmu, who was elevated in October 2025. The other deputy governors include economist Poonam Gupta and banker Swaminathan J, both appointed from outside the RBI’s internal ranks.
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Rohit Jain, a Reserve Bank of India executive director, has been appointed deputy governor. His term begins on or after May 3, 2026, and will last for three years. Jain has served the central bank for three decades. He replaces T Rabi Sankar. Jain is one of two deputy governors promoted from within the RBI.
The appointments committee of the cabinet has approved the appointment of Reserve Bank of India (RBI) executive director (ED) Rohit Jain as deputy governor (DG) of the banking regulator.
The appointment is for a period of three years from the date of joining the post on or after May 3, 2026, the Department of Personnel (DoP) said in a notification on Saturday.
Also Read: RBI steps up play in us treasuries, other securities
Jain has spent about 30 years at the central bank with RBI handling several functions including banking supervision which he was incharge of as ED before this appointment.
Jain will replace T Rabi Sankar, whose tenure ended on Saturday after two extensions granted in 2024 and 2025. Sankar was also a career central banker and took over as deputy governor in 2021.
Live Events
Vivek Deep, Rohit Jain, Radha Shyam Ratho and Ajay Kumar were the sernior most executive directors in the fray for the DG post. Jain has been a RBI ED since December 2020.
As senior most DG Rabi Sankar had a oversight of 12 departments including financial markets regulation, foreign exchange, risk monitoring, fintech and payment and settlement.
Also Read: RBI Governor Malhotra calls for deeper, more efficient financial markets as India shows resilience amid global headwinds
The departments managed by all DGs will most like be reshuffled after Jain takes over.
Jain becomes one of the two deputy governors promoted from within the institution, along with SC Murmu, who was elevated in October 2025. The other deputy governors include economist Poonam Gupta and banker Swaminathan J, both appointed from outside the RBI’s internal ranks.
(You can now subscribe to our Economic Times WhatsApp channel)
INR35k-cr windfall: What Hormuz crisis, rising crude mean for ONGC, OIL
First-time buyers, entry cars: The missing links in India’s auto boom
Is private sector corruption free? Here's the reality...
Bold promises vs. hard proof: Indian IT faces an AI test this fiscal
How a cozy club controls India’s gold imports
Weekly Top Picks: These stocks scored 10 on 10 on Stock Reports Plus
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