Rajeev Kumar, secretary, Department of Financial Services at the Ministry of Finance, said in a tweet.
The move would strengthen the supervision and regulation of commercial banks, urban cooperative banks and non-banking financial companies.
The government on Monday appointed IDBI Bank Ltd Chief Executive Officer Mahesh Kumar Jain as a deputy governor of the Reserve Bank of India (RBI) for three years.
Jain, who is also the managing director of the state-run lender, had previously led Indian Bank for a couple of years, Rajeev Kumar, secretary, Department of Financial Services at the Ministry of Finance, said in a tweet.
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