M.K. Jain on Friday assumed charge as the fourth Deputy Governor of the Reserve Bank of India (RBI). He has been allocated portfolios, including banking supervision and non-banking supervision.
Mr. Jain will also handle financial inclusion and customer education departments, according to the list of portfolios of deputy governors that was uploaded on the RBI’s website.
Deputy Governor N.S. Vishwanathan was handling the banking supervision department after S.S. Mundra retired in August last year.
Typically, the supervisory department is handled by the Deputy Governor who has been a commercial banker.
