The Government of India has appointed Poonam Gupta, Director General of the National Council of Applied Economic Research (NCAER), as the Deputy Governor of the Reserve Bank of India (RBI) for a three-year term. This appointment fills the vacancy left by Michael Patra, who completed his tenure in January 2025.
Gupta brings extensive experience from her previous roles at the World Bank and the International Monetary Fund (IMF), where she contributed to various economic research and policy initiatives. She has also served as a professor at the Delhi School of Economics and held visiting positions at the Indian Statistical Institute. Her academic credentials include a Ph.D. in Economics from the University of Maryland, USA, and a Master’s degree from the Delhi School of Economics, University of Delhi.
In addition to her roles at international financial institutions, Gupta has been a member of the Economic Advisory Council to Prime Minister Narendra Modi and the Convener of the Advisory Council to the 16th Finance Commission. Her appointment comes at a pivotal time as the RBI prepares for its upcoming Monetary Policy Committee meeting scheduled from April 7 to April 9, 2025. She is expected to join the six-member committee, which plays a crucial role in setting the country’s monetary policy.
Gupta’s appointment is significant as she becomes the first woman to hold the position of RBI Deputy Governor in over a decade. Her expertise in international finance and economic policy is anticipated to contribute to the RBI’s efforts in addressing current economic challenges, including sluggish growth and global uncertainties.
As Deputy Governor, Gupta will oversee key departments within the RBI, including monetary policy, financial markets operations, and economic research. Her leadership is expected to play a vital role in shaping India’s monetary policy framework and steering the economy toward sustainable growth.