RBI has appointed Rohit Jain as its new Deputy Governor, following the retirement of T Rabi Sankar. The appointment comes at a critical juncture as the central bank gears up to strengthen the banking system against emerging risks, particularly in cybersecurity and digital finance.

Key Highlights

• RBI appoints Rohit Jain as Deputy Governor, succeeding T Rabi Sankar after retirement in May 2026.
• Appointment comes amid rising cybersecurity risks, strengthening RBI supervision and regulatory oversight of banks.

Rohit Jain, who has been serving as Executive Director since December 2020, was previously responsible for overseeing supervisory assessments of banks and financial institutions under the Department of Supervision. His tenure as Deputy Governor will extend until May 2029.

Key Role in Strengthening Banking Oversight

The portfolios for Rohit Jain are expected to be announced shortly after he assumes office. His predecessor, Sankar, handled a wide-ranging portfolio that included currency management, corporate strategy, information technology, payment systems, fintech, financial markets regulation, foreign exchange, and internal debt management.

Within the current RBI leadership structure the bank should have 4 deputy governors, Shirish Chandra Murmu oversees regulatory and enforcement functions, while Swaminathan J manages supervision, consumer protection, and inspections. Meanwhile, Poonam Gupta handles macroeconomic policy, monetary operations, and financial stability.

Also Read: RBI Introduces ECL Norms for Banks, Strengthens Risk Framework

Focus on Cybersecurity and Financial Stability

Rohit Jain’s appointment is seen as strategically significant as the RBI intensifies its focus on cybersecurity resilience across the banking ecosystem. In a previous address ahead of the G20 finance ministers’ and central bank governors’ meeting in Bengaluru, he emphasized the importance of embedding robust security frameworks within banking operations.

He highlighted, "Financial institutions must adopt a security by design approach, ensuring that cybersecurity safeguards are integrated into core systems and processes rather than treated as an afterthought."

The leadership transition comes at a time when India’s financial system is rapidly evolving with increased digital adoption, fintech integration, and global economic uncertainties.Rohit Jain’s experience in supervision and risk assessment is expected to play a key role in strengthening regulatory oversight and enhancing systemic resilience.