Shri Shaktikanta Das, IAS Retd., former Secretary, Department of Revenue and Department of Economic Affairs, Ministry of Finance, Government of India assumed charge as the 25th Governor of the Reserve Bank of India effective December 12, 2018. Immediately prior to his current assignment, he was acting as Member, 15th Finance Commission and G20 Sherpa of India.

Shri Shaktikanta Das has vast experience in various areas of governance in the last 38 years. Shri Das has held important positions in the Central and State Governments in the areas of Finance, Taxation, Industries, Infrastructure, etc.

During his long tenure in the Ministry of Finance, Government of India, he was directly associated with the preparation of as many as 8 Union Budgets. Shri Das has also served as India’s Alternate Governor in the World Bank, Asian Development Bank (ADB), New Development Bank (NDB) and Asian Infrastructure Investment Bank (AIIB). He has represented India in international fora like the IMF, G20, BRICS, SAARC, etc.

Shri Shaktikanta Das is a postgraduate from St. Stephen’s College, Delhi University.

Dr. Michael Debabrata Patra, a career central banker since 1985, has worked in various positions in the Reserve Bank of India. He has served as the Executive Director of the Bank. He is a member of the Monetary Policy Committee of the Reserve Bank of India, which is invested with the responsibility of monetary policy decision making in India. He has held the position of Principal Adviser of the Monetary Policy Department, Reserve Bank of India since July 2012.  He has also worked in the International Monetary Fund as Senior Adviser to Executive Director (India) during December 2008 to June 30, 2012.

He has published a book and several papers in the areas of inflation, monetary policy, international trade and finance, including exchange rates and the balance of payments.   A Fellow of the Harvard University where he undertook post-doctoral research, he has a Ph.D. in Economics from the Indian Institute of Technology, Mumbai. 

Shri Swaminathan Janakiraman, was appointed as the Deputy Governor of the Reserve Bank of India in June 2023 where his responsibilities include Supervision, Financial Inclusion and Development, Consumer Education and Protection.

Shri Swaminathan is a career banker from State Bank of India (SBI), which is India’s largest bank.  In an illustrious career with SBI spanning over 34 years, Shri Swaminathan has held, both in India and overseas, various assignments across Corporate and International Banking, Retail and Digital Banking, Finance and Assurance functions.  

As Managing Director of SBI, Shri Swaminathan oversaw the large corporate and commercial credit business of the bank along with the Non-Banking Subsidiaries of SBI and Regional Rural Banks sponsored by SBI.  In his immediately preceding assignment, Shri Swaminathan was in charge of the stressed assets management vertical, Risk management functions and Regulatory compliance. Apart from serving as SBI’s nominee on the Boards of various organisations, he also chaired the Advisory Group to the Regulations Review Authority (RRA 2.0) of the Reserve Bank of India (2021-22). 

Previously, as Deputy Managing Director (Finance), Shri Swaminathan handled the Balance Sheet Management, Planning and Budgeting functions as well as Investor Relations. As SBI’s Chief Digital Officer, Shri Swaminathan oversaw Digital & Transaction Banking verticals of the Bank. Earlier, as a Chief General Manager, Shri Swaminathan headed a major Circle of SBI, taking care of the Retail Banking business.  In this tenure, he was also the President of the State Level Bankers’ Committee and was responsible for spearheading the financial inclusion initiatives of the banking community.

Shri Swaminathan has an Executive MBA from the National Institute of Business Management. He is a Certified Associate of Indian Institute of Bankers (CAIIB), Certified Documentary Credit Specialist (CDCS) and Certified Anti-Money Laundering Specialist (CAMS).

Prof. Partha Ray joined NIBM as Director in May 2021. He was Professor of Economics at the Indian Institute of Management Calcutta during December 2011 – April 2021, where he taught Macroeconomics, Global Political Economy, and Recent Issues on Monetary Policy and Banking. During 2007 – 2011, he was Adviser to the Executive Director (India) at the International Monetary Fund, Washington D.C. Earlier (during 1989-2006) he was working in the specialist cadre of Economists in the Reserve Bank of India (RBI); his last position was Director, Department of Economic and Policy Research, RBI. Educated in Kolkata, Mumbai and Oxford, he has written extensively on issues relating to Indian economy, global financial crisis, monetary policy, banking and finance.  

Dr. Sajjid Z. Chinoy is Managing Director and Chief India Economist at J.P. Morgan, and a member of the Economic Advisory Council to India’s Prime Minister (EAC-PM). He also serves on an Advisory Group set up by India’s Ministry of Finance on G20 issues in the run-up to India assuming the G20 Presidency in 2022. He is a member of the Next Bretton Woods Group (NBWG) of rising leaders in economic policy set up under the auspices of the Peterson Institute for International Economics in Washington D.C. Dr. Chinoy previously served on the Advisory Council to India’s 15th Finance Commission and was a member of the “Expert Committee to Revise and Strengthen the Monetary Policy Framework” set up by the RBI which proposed inflation targeting in India in 2014. He has served on other RBI committees including Offshore Rupee Markets and Developing a Secondary Market for Corporate Loans. In 2016, he served as a consultant to the FRBM Review Committee which proposed a new fiscal anchor for India.

Dr. Chinoy has been ranked as one of India’s Best Fixed Income Researchers by Asset Magazine for every year since 2013, and was awarded the J.P. Morgan Excellence Award for Value Creation in 2011. He has co-edited a book, “India’s External, Financial and Fiscal Policies” with Dr. Anne O. Krueger, former First Deputy Managing Director of the IMF, and his research has been published in books, conference volumes, IMF and RBI working papers, and journals.

Dr. Chinoy has previously worked at the IMF and McKinsey & Company. He received his Ph.D. at Stanford University. His Ph.D. dissertation won the EXIM Bank award for the best dissertation by an Indian national in 2001.

Dr. Ravindra H. Dholakia has experience of teaching, research, training and consultancy for about 45 years at IIM Ahmedabad (1985 to 2018); M.S. University of Baroda (1980-1985); and SPIESR Ahmedabad (1977-80). His areas of research interest are macroeconomic policies; growth and development including agriculture, urbanization, labour, productivity, health and education; national and sub-national accounts. He has considerable practical experience of working in high powered policy making and evaluation bodies in India such as Member of the first Monetary Policy Committee of India that decides the policy rates (2016-20); Member of the Sixth Central Pay Commission (2006-08) deciding revision of the pay and pension of more than 10 million employees in India; Member of the High Level Committees on 10^th Advisory Board of CAG (2021-23), Assisting the Government for assessment of relief to Bank Borrowers (2020), Leveraging Postal Network in India (2014), Pay Rationalisation and Restructuring for Air India (May 2011- March 2012), Public Expenditure Management (2009-10), and on Savings and Investment Estimation (2008-09) appointed by the Government of India. He also worked as a Member of the Expert Committee on Economic Revival Measures including Fiscal Restructuring in the State Economy Post-COVID-19 Pandemic (2020), Restructuring of the State Public Sector Units (2004-08), the Public Debt Management Committee (2005-06), and the State Public Finance Reform Committee (1998 – 2000) appointed by the Government of Gujarat. Dr. Dholakia has chaired Committees on Financial Sector Statistics (2016-18), Sub-National Accounts (2018-20) appointed by the Ministry of Statistics and Programme Implementation, Government of India, and Cost Saving and Resource Use Optimization in Air India (2013), appointed by Ministry of Civil Aviation, Government of India. He has carried out numerous consulting assignments in the private and public sector companies in India and has done work for the international organizations like WHO, UNICEF, World Bank, UNDP, Hewlett Foundation, United Nations, UN–Mongolia, etc. He has written about 49 monographs, 23 books, and more than 140 research papers published in journals of national and international repute and guided 41 students successfully for doctoral degree. Dr. Dholakia has served as an independent director on the Boards of Gujarat State Financial Services, National Commodity and Derivatives Exchange, Power Finance Corporation, State Trading Corporation, Air India, Union Bank of India, Adani Ports and Special Economic Zone, Adani Enterprises, Adani Transmission, Gujarat State Petroleum Corporation, Gujarat State Fertilizer and Chemicals, Gujarat Industries Power Company, etc.

Dr. Pami Dua is Senior Professor of Economics and Former Director of the Delhi School of Economics. She has also served as Chairperson, Research Council; Dean Research of Humanities and Social Sciences; and Dean of Academic Activities and Projects at the University of Delhi.

She was an external member of the first Monetary Policy Committee of the Reserve Bank of India. She has also served as the President of the Indian Econometric Society. She has served as Co-Chair of the Task Force on Macroeconomics, Trade and Livelihoods under Think20 (T20) India / G20 India. She is also an Honorary Distinguished Fellow (Non-resident) of the Indira Gandhi Institute of Development Research (IGIDR), Mumbai. She is a Senior Research Fellow with the Economic Cycle Research Institute (ECRI) in New York and has been the Principal Coordinator from India of the United Nations World Project LINK for almost two decades.

She earlier served as the President of the Indian Econometric Society and as Editor of the Indian Economic Review, journal of the Delhi School of Economics, for almost two decades.

She has published widely in time series econometrics, forecasting, macroeconometrics, monetary policy and business cycle analysis. She has almost four decades of experience in teaching of macroeconomics, econometrics and forecasting. She earlier taught at the University of Connecticut, USA and Wayne State University, Michigan, USA, and has also been affiliated with Yale University as well as Columbia University.

She holds a Doctorate in Economics from London School of Economics.

She has been conferred the highest honour of the University of Delhi, Nishtha Dhriti Satyam Samman, given to a person of eminence who has made an extraordinary contribution to the development of the University. She has also been conferred the National Systems Gold Medal by the Systems Society of India for her outstanding contributions in the area of Economics and Social Sciences. She has been honoured with the Distinguished Alumni Award from Lady Shri Ram College.

Prof N. R. Bhanumurthy has taken charge as a first Vice-Chancellor of Dr. B.R. Ambedkar School of Economics University, Bengaluru (BASE University). He is currently on deputation from NIPFP, New Delhi, where he has been a professor since 2009. Prior to this he worked as Assistant Professor and Associate Professor at Institute of Economic Growth, Delhi.

His research areas are macro-monetary economics, fiscal policy, international money & finance, macroeconomic modelling and development economics. In these areas he has authored over 90 research papers, five books, and over 250 short articles in newspapers and magazines. His views on Indian economy is very regularly quoted in both print and visual media.  He has successfully co-supervised 6 Ph.D. students and was part of Doctoral committee of 5 Ph.D. students.  He had brief stints at UNESCAP, Bangkok and at UNDP RCC at Colombo as Macroeconomist. He was a Visiting Fellow at MSH, Paris, Mcgill University, Montreal and ADB, Manila. He has been a consultant to UN-DESA (New York), UN-ESCWA (Beirut), UNDP-Nepal, UNDP-Bhutan, UNESCAP, ILO, the World Bank, and ADB.

He has served on over 25 government committees constituted by Finance Ministry, Ministry of Statistics, Ministry of Rural Development, National Statistical Commission, Ministry of Education, erstwhile Planning Commission, NITI Aayog, RBI, SEBI, Government of Madhya Pradesh, Government of Karnataka, among others. Dr Bhanumurthy is currently serving as Managing Trustee of the Indian Econometric Society Trust and also Managing Trustee of Indian Economic Association Trust for Research and Development since 2010. He was Secretary of the Indian Econometric Society for over 17 years between 2006 and 2023.  As part of the India’s G20 presidency, Dr Bhanumurthy is nominated as a Chair for the T20 Taskforce-1 on ‘Macroeconomics, Trade and Livelihoods’

He has received two prestigious awards: Mahalanobis Memorial Medal (National) Award for the year 2014 for his contributions to the field of quantitative economics in India; and “VKRV Rao Prize in Social Sciences (Economics)” for the year 2015, for high quality research and for significant contributions to social science research in India.

Shri Eugene Emmanuel Karthak joined as Director of IIBM in December 2021. He was earlier Executive Director, Reserve Bank of India looking after the functioning of Department of Information Technology, Department of Corporate Services, Premises Department, Central Security Cell, Premises Department and Rajbhasha Department. He also has contributed to various committees like CCB, DG's Committee, Building Sub-Committee etc. Prior to joining as Executive Director, he worked as the Regional Director, RBI Delhi and Regional Director, RBI, Bengaluru.

In 2010, he was entrusted to setting up of the RBI’s Office in Gangtok, Sikkim.

He was also RBI’s Nominee Director on the Board of Andhra Bank where he served on the bank’s Management Committee, Audit Committee and Remuneration Committee, Information Technology Committee etc.

Besides, he also worked as a deputationist in Govt of India, New Delhi and Central Bureau of Investigation, New Delhi.

Shri. B.P. Kanungo joined as the Director of CAFRAL on September 20, 2021.  He was previously Deputy Governor with the Reserve Bank of India looking after the Department of Currency Management, Department of External Investments & Operations, Department of Government & Bank Accounts, Department of Information Technology, Department of Payment & Settlement Systems, Foreign Exchange Department, Internal Debt Management Department, Legal Department and Premises Department.Shri Kanungo, a career central banker, joined the Reserve Bank of India in September 1982. He has worked in several functional areas of the bank including banking & non-banking supervision. He headed the regional offices of the Reserve Bank at Jaipur and Kolkata besides holding the position of the Banking Ombudsman for Madhya Pradesh and Chhattisgarh. As Executive Director, he was responsible for Foreign Exchange Management, Internal Debt Management and Government and Bank Accounts.Shri Kanungo represented RBI in the International Committee on Global Financial System, Financial Stability Board.  He was Chairman of Bharatiya Reserve Bank Note Mudran Private Limited, Chairman of the Governing Board of Indian Institute of Bank Management, Guwahati and RBI Nominee Director on the Boards of National Bank for Agriculture and Rural Development, National Housing Bank, Reserve Bank Information Technology Private Limited, etc.