Rohit Jain Appointed RBI Deputy Governor, Succeeds T Rabi Sankar

The Government of India has named Rohit Jain as a Deputy Governor of the Reserve Bank of India (RBI), as per an official notification released on May 2. He will assume office on May 3 and serve a term of three years.

Jain currently serves as Executive Director within the central bank. He is known for his experience in regulatory oversight and financial operations.

Rohit Jain takes over from T Rabi Sankar, who stepped down after completing his tenure last month.

The RBI will announce Jain’s specific responsibilities in due course. This leadership change comes at a time when the RBI remains focused on ensuring monetary stability, managing inflation, and safeguarding the financial system.

Jain’s promotion signals institutional continuity as the central bank responds to evolving economic conditions.

At the same time, RBI Governor Sanjay Malhotra, while addressing the 25th FIMMDA-PDAI Annual Conference in Amsterdam, emphasised the strength of India’s economic fundamentals. He pointed to robust domestic demand and ongoing public investment as key drivers supporting growth despite global uncertainties.

Sanjay Malhotra also highlighted that increased government spending on infrastructure has encouraged private sector investment and strengthened productive capabilities across the economy.

The RBI Governor drew attention to emerging risks in the global landscape, noting that rising fiscal deficits in several countries, along with increased defence expenditure, could affect long-term fiscal sustainability worldwide. He further warned that high valuations in segments such as the technology sector may expose financial markets to potential corrections.

Sanjay Malhotra observed that ongoing supply chain disruptions and higher energy costs have already begun to weigh on economic activity. He cautioned that prolonged stress in these areas could trigger secondary inflationary effects.

Looking forward, the RBI intends to continue strengthening financial markets by expanding participation and enhancing institutional structures.

While acknowledging progress in recent years, Sanjay Malhotra stressed the need for further reforms. He said these would help ensure resilience in the face of global volatility.

Jain’s appointment will support these efforts and contribute to policy continuity. It will also reinforce the RBI’s broader objectives of financial stability and sustainable economic expansion.

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