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The government has appointed Rohit Jain as Deputy Governor of the Reserve Bank of India for a three-year term, marking a key leadership transition at the central bank. A notification issued by the Department of Personnel and Training stated that the Appointments Committee of the Cabinet approved his appointment, which will take effect on or after May 3, 2026.
Jain will succeed T Rabi Sankar, whose tenure concludes on May 2, ensuring continuity in critical policy, regulatory, and operational functions within the institution. His appointment follows a selection process conducted in April 2026, during which multiple executive directors were considered before finalising his name.
A career central banker with over three decades of experience, Jain has spent a substantial part of his professional journey within the RBI. He was appointed Executive Director in December 2020, where he handled the Department of Supervision with a focus on risk assessment, analytics, and vulnerability management, along with responsibilities across banking operations and human resource functions.
Jain holds a Master’s degree in Commerce and an MBA, along with professional certifications including the International Certificate in Banking Risk and Regulation (ICBRR) and Certified Associate of the Indian Institute of Banking and Finance (CAIIB). He is also a certified bank trainer. Within the RBI’s leadership structure, he becomes one of the two deputy governors promoted from within the institution, alongside SC Murmu, while Poonam Gupta and Swaminathan J were appointed from outside.
According to reports, Jain is expected to take charge of key portfolios earlier handled by Rabi Sankar, including financial markets regulation, foreign exchange management, and payment and settlement systems, which are central to liquidity management and digital payments. However, the RBI is likely to formally announce the allocation of his responsibilities in the coming days.
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