The Reserve Bank of India (RBI) has appointed Manoranjan Mishra as the new Executive Director, effective from November 1, 2023. With over three decades of experience in the RBI and a strong background in various aspects of banking and finance, Mishra’s appointment brings a wealth of expertise to the central bank.
- Mishra has a post-graduate degree in economics and an MBA in banking and finance. Additionally, he obtained a master’s degree in finance and financial regulation from Aston Business School in the United Kingdom. His strong academic qualifications have enhanced his abilities in the finance field.
Responsibilities as Executive Director
As an Executive Director, Mishra will oversee three crucial departments within the RBI:
- Enforcement Department
In this role, Mishra will be responsible for ensuring that financial institutions adhere to the regulatory framework and maintain the highest standards of compliance. The Enforcement Department plays a pivotal role in safeguarding the integrity of the financial system.
- Risk Monitoring Department
Managing and mitigating risks is a core function of any central bank. Mishra’s responsibilities will include monitoring and analyzing various risks in the financial sector, providing early warning signals, and formulating strategies to maintain stability and resilience in the banking and financial system.
- Department of External Investments & Operations
This department oversees the RBI’s external investments and operations, including its foreign exchange reserves. Mishra’s role in this department will contribute to the effective management of India’s foreign exchange reserves and investments abroad.
A Distinguished Career
Before his promotion to the prestigious position of Executive Director, Manoranjan Mishra held the position of Chief General Manager in the Department of Regulation. His career within the RBI has been marked by significant contributions in various areas, making him a valuable asset to the central bank. Some of his notable contributions include:
- Regulation of Banks and NBFCs: Mishra has played a pivotal role in shaping regulatory policies for banks and non-banking financial companies (NBFCs), ensuring a stable and well-regulated financial sector.
- Supervision of Banks: His experience in the supervision of banks has been instrumental in maintaining the health of India’s banking industry.
- Currency Management: As a key figure in currency management, Mishra has contributed to the smooth operation of the currency system in India.
- Policy Formulation: Mishra’s participation in national and international working groups has been crucial in formulating regulatory and supervisory policies. His insights have influenced the shaping of financial regulations both at home and on the global stage.