New Delhi: Reserve Bank of India (RBI) on Monday announced that Rohit Jain has taken over as Deputy Governor, succeeding T Rabi Sankar whose extended tenure ended recently.
Jain, a career central banker, has been appointed for a period of three years or until further orders, whichever is earlier, according to an official statement.
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Prior to his elevation, Jain was serving as Executive Director at the RBI, where he was in charge of the Department of Supervision (Supervisory Assessment). With over 34 years of experience in the central bank, he has held several key positions, including Chief General Manager in the Department of Supervision at the central office and at the New Delhi Regional Office.
As Deputy Governor, Jain will oversee a wide portfolio of 10 departments, including the Department of External Investments and Operations, Financial Markets Regulation Department, Internal Debt Management Department, Foreign Exchange Department and Fintech Department. His responsibilities will also include the Risk Monitoring Department, Department of Information Technology, Department of Government and Bank Accounts, Corporate Strategy and Budget Department, and the Rajbhasha Department.
Jain joined the RBI in 1991 and holds an MBA (Finance) from Gujarat University and an M.Com from Delhi School of Economics, University of Delhi. He is also a Certified Associate of the Indian Institute of Banking (CAIIB) and holds an International Certificate in Banking Risk and Regulation from the Global Association of Risk Professionals (GARP).
During his career, Jain has been associated with several high-level domestic and international committees. He served as RBI’s nominee to groups under the Basel Committee on Banking Supervision and the Financial Stability Board. He has also represented the RBI on the Board of Supervision of NABARD and the Advisory Committee of CSIRT-Fin.
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In addition, he has served as Chairperson of the College Advisory Committee at the College of Agricultural Banking, Pune, and as a member of the Academic Advisory Council at the College of Supervisors, RBI. He has also worked as a consultant with the Bank of Mauritius and as an RBI Additional Director on the board of a private bank.
As per the RBI Act, 1934, the central bank has four Deputy Governors. The other three currently serving Deputy Governors are Swaminathan J, Poonam Gupta and S C Murmu.
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