The Reserve Bank of India (RBI) announced on Friday that newly appointed Deputy Governor Poonam Gupta has formally assumed charge and will oversee the critical portfolios of monetary policy, financial market operations, and economic and policy research.
Gupta, who was appointed to the role in April, officially took office today. A seasoned economist with prior experience at the World Bank and the International Monetary Fund (IMF), she brings deep expertise to the central bank at a time when inflationary pressures are easing and monetary policy is under the spotlight.
With her new responsibilities, Gupta joins the RBI’s six-member Monetary Policy Committee (MPC), replacing Rajeswar Rao, who had been serving in the role temporarily following the end of Michael Patra’s term in mid-January.
The MPC, which cut interest rates for the second time this year in April, has signaled further room for monetary easing as consumer price inflation hovers near the central bank’s target of 4%.
Before joining the RBI, Gupta served as Director General of the National Council of Applied Economic Research (NCAER), India’s leading economic policy think tank. She is also a current member of the Economic Advisory Council to Prime Minister Narendra Modi.
