The Appointments Committee of the Cabinet (ACC) has approved the appointment of Rohit Jain as Deputy Governor of the Reserve Bank of India (RBI).
The appointment will be for a period of three-year.
According to a notification issued by the Department of Personnel and Training (DoPT) on May 1, Jain's tenure will take effect on or after May 3.
Jain is currently serving as an executive director at the central bank.
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He replaces former deputy Governor, T. Rabi Sankar. Rabi Sankar was first appointed Deputy Governor in September 2021 for three years and was given a one-year extension in 2024 and subsequently in 2025.
According to the RBI Act, 1934, the central bank should have four deputy governors, two from within the ranks, one commercial banker and an economist to head the monetary policy department.
The other three deputy governors are Swaminathan J, Poonam Gupta and S C Murmu.
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