The Indian government has appointed Rohit Jain, currently an Executive Director at the Reserve Bank of India, as one of the central bank's Deputy Governors for a three-year term from the date of joining the post on or after 3 May 2026, an official notice showed on Saturday.
The RBI announced the appointment, made by a government notification dated 2 May 2026, in a press release the same day. Mr Jain succeeds T. Rabi Sankar, whose extended term as Deputy Governor ended on 2 May.
INTERNAL CANDIDATE ELEVATED
Mr Jain has spent his career inside the Reserve Bank, most recently as an Executive Director. The RBI has four Deputy Governors and has a tradition of promoting experienced internal candidates to the post.
The Deputy Governors between them oversee the RBI's core policy and operational departments, spanning monetary policy, banking supervision, financial markets, payments and currency management. Portfolios are allocated by the Governor, and Mr Jain's specific responsibilities will be set out in due course.
Mr Jain, an Executive Director since December 2020, has overseen supervisory functions at the central bank.
SUCCEEDING T. RABI SANKAR
T. Rabi Sankar, whom Mr Jain succeeds, completed his term as Deputy Governor on 2 May. He had been a prominent public face for the RBI's work on payments systems, central bank digital currency and market infrastructure.
He was among four Executive Directors reported to have been in contention for the post, alongside Vivek Deep, Radha Shyam Ratho and Ajay Kumar.
Under the government notification, Mr Jain's three-year term runs from the date he joins the post on or after 3 May 2026, or until further orders, whichever is earlier.
The appointment takes effect when Mr Jain joins the post, on or after 3 May 2026, and Mr Jain's specific portfolio will be confirmed by the Governor in the usual way.
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