The government on Monday appointed IDBI Bank’s Managing Director and Chief Executive Officer Mahesh Kumar Jain as deputy governor of the Reserve Bank of India. The post had been lying vacant since August 2017 when SS Mundra retired. Jain will take over the post for three years.

Jain has over 30 years of experience, Rajeev Kumar, financial services department secretary at the finance ministry, said in a tweet. He served as the chief executive officer of Indian Bank between November 2015 and March 2017.

A search panel, headed by the Cabinet Secretary and including RBI Governor Urjit Patel, financial services secretary, had interviewed candidates on May 10, PTI reported. Managing directors of State Bank of India, B Shriram and PK Gupta, Skill Development Secretary KP Krishnan, UCO Bank’s Executive Director Charan Singh, NITI Aayog’s Additional Secretary Yaduvendra Mathura, and Tamil Nadu principal secretary TV Somnathan were also in the running for the post, according to Mint.