Mumbai, May 4: Rohit Jain has officially taken over as the new Deputy Governor of the Reserve Bank of India (RBI) as of May 3. The Appointment Committee of the Cabinet (ACC) announced his appointment on May 2. Jain succeeds T. Rabi Shankar and will serve a term of three years.
Jain has been with the RBI since December 2020, working as an Executive Director, where he was involved in the supervision department focusing on risk, analytics, and vulnerability assessment. He holds a Master’s degree in Commerce and an MBA in Business Administration, along with professional certifications in Banking Risk and Regulation and as a Certified Associate of the Indian Institute of Banking and Finance (CAIIB).
With nearly three decades of experience at the RBI, Jain has worked in various critical areas including supervision, human resource management, and banking. He is expected to oversee departments related to financial market regulation, foreign exchange, and payment and settlement systems.
The RBI has four Deputy Governors, with two positions filled through internal promotions and the other two from external candidates. Jain, along with S.C. Murmu, is among the Deputy Governors promoted from within the RBI. Currently, economist Poonam Gupta and former SBI MD Swaminathan J. serve as the other two Deputy Governors.
The RBI will soon announce Jain’s official portfolio.
In another significant appointment, lyricist Prasoon Joshi has been named the Chairman of Prasar Bharati by the Ministry of Information and Broadcasting on May 2. Joshi will lead the Prasar Bharati board and has previously served as the President of the Central Board of Film Certification (CBFC) in 2017. He is also the CEO of McCann Worldgroup India and the Chairman of McCann Worldgroup Asia Pacific (APAC).
Joshi is well-known for his contributions to Indian cinema, having penned songs for films like “Rang De Basanti” and “Taare Zameen Par,” and was awarded the Padma Shri by the Government of India in 2015 for his contributions to literature and advertising.
These appointments reflect significant developments in India’s governance and cultural sectors, marking a new chapter for both the RBI and Prasar Bharati.