MUMBAI: Mahesh Kumar Jain took charge as the Deputy Governor of Reserve Bank of India (RBI) today. The Government of India, on June 4, 2018 has appointed him as the Deputy Governor of RBI for a period of three years from the date of assumption of charge or until further orders, whichever is earlier.
Jain was the MD & CEO of IDBI Bank before being appointed as Deputy Governor. As Deputy Governor, Jain will look after the Department of Banking Supervision, Department of Co-operative Banking Supervision, Department of Non-Banking Supervision, Central Security Cell, Department of Corporate Services including Document Management System, Rajbhasha Department, Consumer Education and Protection Department, Financial Inclusion and Development Department and Premises Department.
Jain is a professional banker with more than 32 years of experience. Prior to his stint with IDBI Bank, he was heading Indian Bank. He has served at various positions in Punjab National Bank (PNB) and Syndicate Bank across multiple areas that include Corporate & Retail Credit, Risk Management, Credit Monitoring including Corporate Debt Restructuring, Business Process Re-engineering, Treasury and International Banking.