Mahesh Kumar Jain is an Indian banker. He served as a Deputy Governor of the Reserve Bank of India from 2018 to 2023.[1][2] He holds over 35 years of experience, including a decade in various board-level positions. During his tenure, he oversaw the supervision of banks. He played a pivotal role in fostering economic growth through financial inclusion initiatives. Previously, Mr Jain had an illustrious career in commercial banking, including heading two banks, viz. IDBI Bank (2017–18) and Indian Bank (2015-17).
Quick Facts Deputy Governor of Reserve Bank of India, Governor ...
Close
Mahesh Kumar Jain was born on May 5, 1961. He pursued his education at esteemed institutions, earning post-graduate degrees in Commerce and Business Administration from FMS, Delhi. He also holds professional certifications, including Certified Associate of the Indian Institute of Bankers (CAIIB), Financial Risk Manager (FRM), and Chartered Financial Analyst (CFA).
Mr. Jain's illustrious banking career spans over 35 years, marked by significant contributions to various financial institutions. He held key leadership roles in commercial banking. Jain served as the MD & CEO of IDBI Bank before being appointed as the Deputy Governor of the Reserve Bank Of India. Before joining IDBI Bank, he headed Indian Bank.[2][3] His leadership at these institutions was characterised by strategic reforms and operational excellence.
Appointed as the Deputy Governor of the Reserve Bank of India (RBI) in June 2018, Mr. Jain assumed responsibility for supervising banks and ensuring financial stability. His tenure coincided with challenging economic conditions, including the twin balance sheet problem and the liquidity crisis in the non-banking financial sector.
Achievements and contributions
Despite facing formidable challenges, Mr. Jain's proactive leadership and innovative strategies earned him the title of 'The Turnaround Banker.' He spearheaded initiatives to address systemic risks, enhance regulatory oversight, and promote financial inclusion. His tenure witnessed significant reforms aimed at rescuing distressed banks and streamlining supervision processes.
Under Mr. Jain's reign, banks under his purview experienced revitalisation and growth. At IDBI Bank and Indian Bank, he implemented structural reforms, focused on retail banking, and attracted strategic investors to bolster capital adequacy. His efforts were recognised with prestigious awards, including the 'Best CEO 2017 (PSU BFSI)' by India Today Group.
In addition to his responsibilities at the RBI, Mr. Jain represented the organization at international forums such as the Basel Committee on Banking Supervision (BCBS). He also served as Vice-Chairman of the Advisory Board of the OECD International Network on Financial Education (INFE), contributing to global financial literacy initiatives.
Mr. Jain's contributions extend to academic and research institutions, where he played significant roles. He served on the Governing Council of the Centre for Advanced Financial Research and Learning (CAFRAL) and the Indira Gandhi Institute of Development Research (IGIDR), fostering research and development in financial studies.
Mahesh Kumar Jain's distinguished career and contributions to the banking sector reflect his commitment to financial stability, regulatory excellence, and inclusive growth. His leadership continues to inspire the generation of bankers and policymakers, leaving a legacy in India's financial landscape.
