RBI reshuffles top deck: New DG Rohit Jain takes charge, portfolios realigned

Mumbai: The Reserve Bank of India on Monday announced a redistribution of portfolios among its deputy governors, following the appointment of Rohit Jain as deputy governor for three years, marking a key administrative reset after the tenure of his predecessor, T. Rabi Sankar.

The central bank said the new allocation, effective 4 May, reflects both continuity in core functions and a strategic rebalancing of responsibilities amid evolving priorities such as oversight of fintech businesses, financial markets regulation, and risk monitoring.

Under the revised structure, Jain has been assigned a wide-ranging and market-facing portfolio. His responsibilities cover departments of corporate strategy and budget, external investments & operations, government and bank accounts, information technology, fintech, financial markets regulation, foreign exchange, internal debt management, rajbhasha, and risk monitoring.

The redistribution follows Jain’s elevation to the central bank’s top tier, succeeding Sankar, who had handled key areas including currency management and fintech. Jain’s appointment took effect from 3 May. He was serving as an executive director at RBI previously.

The reshuffle comes at a time when the RBI is navigating global financial volatility led by the West Asia war, managing currency stability, and deepening the digital finance ecosystem in the country.

Among other deputy governors, Swaminathan Janakiraman will oversee central security cell, consumer education and protection department, department of supervision, Deposit Insurance and Credit Guarantee Corporation, deapartments of financial inclusion and development, human resource management, inspection, legal, premises, besides right to information division and secretary’s department. He will also coordinate among deputy governors as the senior-most official.

Poonam Gupta has been entrusted with the RBI’s core policy and research verticals, including departments of economic and policy research, statistics and information management, financial markets operations, financial stability, international, and monetary policy, reinforcing her role in shaping macroeconomic policy and analysis.

Meanwhile, Shirish Chandra Murmu will oversee regulation, enforcement and payments-related functions, including departments of communication, currency management, payment and settlement systems, regulation, and enforcement.