National Current Affairs
Rohit Jain Appointed as RBI Deputy Governor
- 06 May 2026
- 2 min read
Why in News?
The Government of India has appointed Rohit Jain as a Deputy Governor of the Reserve Bank of India.
Key Points
- Appointment: Rohit Jain has been appointed as a Deputy Governor of the Reserve Bank of India, approved by the Appointments Committee of the Cabinet (ACC).
- Successor: He succeeds T. Rabi Sankar, who completed his tenure at the RBI.
- Tenure: His appointment is for a period of three years, effective from May 2026.
- Previous Position: Prior to his appointment, he served as Executive Director in the RBI, handling key supervisory responsibilities.
- Structure: As per the Reserve Bank of India Act, 1934, the central bank is to have four Deputy Governors—two from within the Reserve Bank of India, one from the commercial banking sector, and one economist responsible for heading the monetary policy department.
- RBI: The Reserve Bank of India was set up on April 1, 1935, under the provisions of the Reserve Bank of India Act, 1934.
- It was nationalised in 1949.
- It was initially established in Kolkata but was permanently shifted to Mumbai in 1937.
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