New Delhi, June 4: The government on Monday appointed Mahesh Kumar Jain, managing director and chief executive officer of IDBI Bank as a deputy governor at the Reserve Bank of India for a term of three years.
Rajeev Kumar, secretary, Department of Financial Services (DFS) made the announcement of Jain’s appointment.
— Rajiv kumar (@rajivkumarec) June 4, 2018
The appointment made by the Financial Sector Regulatory Appointment Search Committee, which includes the Reserve Bank of India (RBI) Governor, the Financial Services Secretary, among other independent members.
The post of one of the Deputy Governors at the Apex bank fell vacant after the retirement of S.S. Mundra on July 31 last year.
Jain has been at his current post at state-run IDBI Bank since April 2017 and has previously worked as the Chief Executive of Indian Bank.
As a career banker, he has also been a member of the Indian Banks’ Association Committee on risk management.
According to the news reports around as many as 40 applications were received for the post of RBI Deputy Governor.