Current Affairs - Persons - Discussion

The Centre has appointed MK Jain, Managing Director, and CEO of IDBI Bank, as the RBI's Deputy Governor. Jain will fill a position that had been lying vacant since August 2017 after the retirement of SS Mundra. With the appointment of Jain, the Centre has stuck to the tradition of having a commercial banker occupy this post of RBI Deputy Governor (reserved for bankers). The central bank now has four serving RBI Deputy Governors. Jain has been appointed for a term of three years.