RBI Appoints Rohit Jain as New Deputy Governor

The Indian government has appointed Rohit Jain as the new Deputy Governor of the Reserve Bank of India, effective May 3. Jain, who is currently an Executive Director at the RBI, will serve a three-year term. He replaces T. Rabi Shankar, who recently retired. The specific department Jain will oversee has not yet been disclosed. This appointment is part of the RBI's structure, which includes four Deputy Governors, with roles designated from various sectors. Stay tuned for more updates on this significant appointment.

By Narendra Chaudhary May 3, 2026, 17:10 IST

Rohit Jain Takes Over as Deputy Governor of RBI

In a significant move, the central government has appointed Rohit Jain as the new Deputy Governor of the Reserve Bank of India (RBI). This announcement was made public through a notification released by the government on Friday, according to reports.

Jain's term will commence on May 3 and will last for three years. He is currently serving as an Executive Director at the RBI. However, the specific department he will oversee as Deputy Governor has yet to be announced.

Retirement of T. Rabi Shankar

Rohit Jain succeeds T. Rabi Shankar, the former Deputy Governor, who retired last month after completing his term. According to the RBI Act of 1934, the central bank is allowed to have four Deputy Governors. Among these, two are appointed from within the organization, one from the commercial banking sector, and one is an economist who leads the monetary policy department. Currently, the other Deputy Governors at the RBI are Swaminathan J., Poonam Gupta, and Shirish Chandra Murmu.