IDBI Bank's M K Jain named RBI Dy Governor, fills space vacated by Mundra

Appointment is for three years; Jain has been on boards of Exim Bank, National Institute of Bank Management, among others

IDBI Bank managing director M K Jain has been appointed the new deputy governor of Reserve Bank of India on Monday, filling up the post that was vacant since July last year.

“Government appoints experienced banker Mahesh Kumar Jain, MD and CEO of IDBI Bank as deputy governor of RBI for a term of three years,” department of financial services secretary Rajiv Kumar announced on Twitter.

Jain will fill up the post previously held by S S Mundra who completed his three-year term on July 31, 2017. Jain has over 30 years of experience as a banker and he has