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Mahesh Kumar Jain has been appointed as the RBI’s 4th deputy governor, for a period of 3 years.
This appointment has been approved by the Appointments Committee of the Cabinet. Jain is currently the CEO and MD of IDBI Bank. He has over 30 years of experience in the banking sector. He has also served on several banking sector committees and involved in risk management efforts at an industry level.
He has been a member of the Indian Banks’ Association (IBA) committee on risk management, committee on PIL on NPAs for submission to Supreme Court and redesigning annual performance appraisal reports of public sector bank officers.
Further, as per the government notifications, the appointment will be made for a period of three years and the person will be eligible for reappointment and the deputy governor will draw a fixed salary of Rs.2.25 lakh per month plus allowances.
