The Indian government has picked the fourth deputy governor of the Reserve Bank of India (RBI), a position unoccupied since August 2017. The RBI needs to have four deputy governors, two from within RBI ranks, one economist and one commercial banker.

The managing director (MD) and chief executive officer (CEO) of IDBI Bank Ltd since April 2017, Mahesh Kumar Jain, has been appointed for the position, tweeted the secretary of Department of Finance Services, Rajeev Kumar.

Jain has previously held the position of CEO of Indian Bank and has been a part of several industrial boards.

The post of deputy governor was vacant after SS Mundra retired in July 2017. The government had advertised for the open position seeking applicants with over 15 years of experience in the banking and financial market operations.

As per a PTI report, the candidates shortlisted for the second round were MK Jain (Managing Director, IDBI Bank), Charan Singh (Executive Director, UCO Bank), B Sriram and PK Gupta (SBI Mds), KP Krishnan (Secretary of Skill Development and Entrepreneurship), Yaduvendra Mathur (Additional Secretary, NITI Aayog) and TV Somanathan, (Principal Secretary, Tamil Nadu government).