RBI Appoints Aviral Jain as New Executive Director

The Reserve Bank of India (RBI) has appointed Aviral Jain as its new Executive Director, effective from October 1, 2024. Jain, previously the Regional Director for Maharashtra, brings over 30 years of experience in diverse areas such as supervision, currency management, foreign exchange regulation, and human resource management.

In his new role, Jain will oversee key departments, including the Legal Department and Premises Department, and serve as the First Appellate Authority for the Right to Information Act (RTI). A post-graduate in economics, Jain also holds certifications in Anti-Money Laundering (AML), Know Your Customer (KYC), and Capital Markets, and is a Certified Associate of the Indian Institute of Banking and Finance (IIBF).

Jain succeeds M. Rajeshwar Rao, the previous Executive Director, who also held significant roles in RBI, contributing notably to policy formulation and oversight in financial regulation during his tenure. Rao played a vital part in implementing the central bank’s various regulatory policies, including initiatives in foreign exchange management and macroeconomic regulation.

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Jain’s appointment continues RBI’s strategic focus on leadership with robust regulatory experience, crucial for handling India’s evolving financial landscape​.