Banking and RBI
Rohit Jain appointed Deputy Governor of the RBI
2 May 2026 | Reserve Bank of India press release 2026-2027/192
The RBI said on 2 May 2026 that the Government of India, by notification dated 2 May 2026, has appointed Shri Rohit Jain, Executive Director, as Deputy Governor of the Reserve Bank of India. The appointment is for three years from the date of joining on or after 3 May 2026, or until further orders, whichever is earlier.
The appointment is made under clause (a) of sub-section (1) of section 8 of the Reserve Bank of India Act, 1934, read with sub-section (4) of section 8.
Key facts- Post: Deputy Governor, Reserve Bank of India
- Appointee: Shri Rohit Jain (earlier Executive Director)
- Term: three years from joining on or after 3 May 2026
- Law: Section 8(1)(a) read with 8(4), RBI Act, 1934
Exam takeaway: Deputy Governors of the RBI are appointed by the Central Government under Section 8 of the RBI Act, 1934.
Quick revision: Rohit Jain (ED) appointed RBI Deputy Governor for 3 years from joining on/after 3 May 2026 (RBI PR 2026-27/192).
Reserve Bank of India press release 2026-2027/192 original sourceEconomy and Finance
Finance Ministry notifies FDI easing for foreign firms with up to 10 per cent Chinese shareholding
2 May 2026 | The Hindu (PTI)
The Finance Ministry has notified a decision allowing overseas companies with Chinese shareholding of up to 10 per cent to invest in India under the automatic route under FEMA, The Hindu reported citing PTI on 2 May 2026. The Union Cabinet had approved amendments to Press Note 3 of 2020 of the DPIIT in March, and the DPIIT notified them through Press Note 2 (2026 series).
Foreign companies with Chinese or Hong Kong shareholding of up to 10 per cent are eligible in sectors where FDI is allowed under the automatic route, subject to sectoral conditions. The relaxed rules do not apply to entities registered in China, Hong Kong or other countries sharing land borders with India. Earlier, even a single share held by a shareholder from these countries needed mandatory approval; now the restrictions apply only to beneficial owners, as defined in the Prevention of Money-laundering Act, 2002.
Key facts- Relaxation: foreign companies with up to 10% Chinese or Hong Kong shareholding
- Route: automatic route, in sectors where FDI is permitted, with sectoral conditions
- Not covered: entities registered in China, Hong Kong or other land-border countries
- Earlier rule: approval needed even for a single share; now only for beneficial owners
Exam takeaway: Press Note 3 of 2020 of the DPIIT set the approval requirement for investments from countries sharing a land border with India.
Quick revision: FDI easing notified under FEMA: up to 10% Chinese/HK shareholding allowed under automatic route (Hindu/PTI, 2 May 2026).
The Hindu (PTI) original sourceAppointments, Awards and Important Days
Prasoon Joshi appointed Chairman of Prasar Bharati
2 May 2026 | Akashvani News (All India Radio)
The Ministry of Information and Broadcasting appointed lyricist, writer and communication expert Prasoon Joshi as Chairman of Prasar Bharati, India's public service broadcaster, Akashvani News reported on 2 May 2026. Information and Broadcasting Minister Ashwini Vaishnaw welcomed the appointment.
Joshi earlier served as Chairperson of the Central Board of Film Certification (CBFC) in Mumbai.
Key facts- Post: Chairman, Prasar Bharati
- Appointee: Prasoon Joshi
- Appointing ministry: Information and Broadcasting
- Earlier post: Chairperson, CBFC
Exam takeaway: Prasar Bharati is India's public service broadcaster, covering Doordarshan and All India Radio.
Quick revision: Prasoon Joshi named Prasar Bharati Chairman (AIR News, 2 May 2026); earlier CBFC Chairperson.
Akashvani News (All India Radio) original source