Poonam Gupta Takes Office as RBI Deputy Governor
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Synopsis
The Indian government has appointed Poonam Gupta as the Deputy Governor of the Reserve Bank of India, succeeding Michael D. Patra. Gupta's appointment is for a three-year term, and she has extensive experience in economic policy and advisory roles.
Key Takeaways
- Poonam Gupta appointed as Deputy Governor of RBI.
- She replaces Michael D. Patra, who retired.
- Gupta's term lasts for three years.
- She leads research at NCAER.
- Gupta has a rich background in economics.
New Delhi, April 2 (NationPress) The government has appointed Poonam Gupta as a Deputy Governor of the Reserve Bank of India for a term of three years, succeeding Michael D. Patra, who stepped down from this crucial role in January of this year.
Her appointment has been ratified by the Appointments Committee of the Cabinet right before the upcoming monetary policy committee meeting set for April 7 to 9. Gupta is currently the Director General at the National Council of Applied Economic Research.
Additionally, Gupta serves as a member of the Prime Minister's Economic Advisory Council and is part of the advisory council for the 16th Finance Commission.
She is also involved with the Development Advisory Committee of the NITI Aayog and led the Task Force on Macroeconomics and Trade during India's G20 Presidency.
Her previous experience includes being a lead economist at the World Bank. She has held the position of RBI Chair Professor at the National Institute of Public Finance and Policy (NIPFP) and has also taught at the Indian Council for Research on International Economic Relations (ICRIER).
Gupta is on the boards of NIPFP and the Global Development Network (GDN), and is a member of the World Bank's advisory groups focused on ‘Poverty & Equity’ and the ‘World Development Report.’
At NCAER, Gupta directs research in critical areas including economic growth, international financial systems, central banking, macroeconomic stability, public debt, and state finances.
She earned her PhD and Master’s degree in Economics from the University of Maryland, USA, and also holds a Master’s degree in Economics from the Delhi School of Economics. In recognition of her doctoral research on international economics, she received the 1998 EXIM Bank Award.
The RBI has four Deputy Governors, with two appointed from serving officers of the central bank. The third Deputy Governor, an economist, is responsible for the Monetary Policy Department, while the fourth is a representative from a commercial bank. The role now occupied by Gupta had been vacant for two months following Patra’s retirement.
