New RBI deputy governor Mahesh Kumar Jain. Jain’s successful track record at Indian Bank as executive director first and CEO later, had prompted the government to name him as CEO of IDBI Bank in March 2017, in an abrupt swap with the then IDBI Bank boss Kishor Piraji Kharat. Jain has been appointed for a period of three years as RBI deputy governor. IDBI Bank has been struggling with huge losses and heavy bad loans for the last three fiscal years. Since the retirement of Mundra, the government had conducted two rounds of interviews to choose a new deputy governor.

Source: Mint June 04, 2018 09:08 UTC