Poonam Gupta Appointed as RBI Deputy Governor Ahead of MPC Meeting

The Reserve Bank of India (RBI) has appointed Poonam Gupta as its new Deputy Governor, succeeding Michael Patra. Her appointment comes just before the Monetary Policy Committee (MPC) meeting, scheduled for April 7-9, 2025. With her vast experience in macroeconomic policy, international financial institutions, and central banking, Gupta’s role at the RBI is expected to be crucial in shaping India’s monetary and financial policies.

Key Points

Background and Appointment

• Appointed by: Reserve Bank of India (RBI)
• Position: Deputy Governor
• Predecessor: Michael Patra
• Appointment Date: April 2, 2025
• Significance: Announced ahead of the bi-monthly Monetary Policy Committee (MPC) meeting (April 7-9, 2025).
• Tenure: Likely for three years (as per RBI norms)

Professional Experience

• Director General, National Council of Applied Economic Research (NCAER)
• Member, Economic Advisory Council to the Prime Minister (EAC-PM)
• Convener, Advisory Council to the 16th Finance Commission

Nearly two decades of experience at,

• International Monetary Fund (IMF)
• World Bank, Washington D.C.
• Served on the boards of:
• National Institute of Public Finance and Policy (NIPFP)
• Global Development Network (GDN)
• World Bank’s Advisory Groups on ‘Poverty & Equity’ and ‘World Development Report’
• Chair of Task Force on Macroeconomics and Trade during India’s G20 Presidency

Academic Background

• Ph.D. & Master’s in Economics – University of Maryland, USA
• Master’s in Economics – Delhi School of Economics, University of Delhi
• 1998 EXIM Bank Award for outstanding doctoral work in international economics

Key Responsibilities at RBI

• Macroeconomic Stability: Monitoring inflation, growth, and fiscal discipline
• Monetary Policy Implementation: Assisting in RBI’s monetary decisions
• Public Debt Management: Ensuring effective financial market operations
• Financial Market Supervision: Enhancing banking sector stability and governance
• International Economic Policies: Managing India’s global financial interactions