New Delhi: The tenure of Deputy Governor Mahesh Kumar Jain of the Reserve Bank of India has been extended for two years. Its information has been given by the RBI itself. Mahesh Kumar Jain’s 3-year term ended on June 21. The Modi cabinet’s appointment committee on Tuesday approved the re-appointment for two years from June 22. It was officially announced by the RBI today.
With the re-appointment of Jain, the Center has maintained the tradition of keeping a commercial banker as the Deputy Governor of the RBI. The central bank currently has four deputy governors. The other three deputy Werners are Michael D Patra, M Rajeshwar Rao and T Shankar. Before becoming Deputy Governor at RBI, Mahesh Kumar Jain was the Managing Director and CEO of IDBI Bank. Mahesh Kumar Jain was selected by the Modi government on June 4, 2018 as the Deputy Director of the RBI for three years.
With more than three decades of experience in banking, Jain became the MD of ADBI Bank in March 2017. Maheshkumar Jain has been on the boards of Exim Bank, NIBM and IBPS. Not only that, he has also played an important role in many committees formed in the baking sector.