Who are RBI MPC’s new members? Know all about the fresh faces in Shaktikanta Das’ team

Ram Singh, Nagesh Kumar and Saugata Bhattacharya have been appointed as the three external members of the 6-member team responsible for taking key monetary policy decision.

Here’s all you need to know about them:

Ram Singh

Dr. Ram Singh, a highly regarded economist and academic, has been appointed to the RBI MPC. Currently serving as the Director of the Delhi School of Economics, Singh brings over two decades of experience in teaching, research, and policy-making to his new role.

His areas of expertise include public economics, financial regulations, and the Indian economy, making him a valuable addition to the MPC at a critical time for India’s economic landscape.

Singh completed his Ph.D. in economics from Jawaharlal Nehru University and pursued post-doctoral studies at Harvard University. He has held numerous leadership roles, including Director of the Delhi School of Public Policy and Governance and Chairman of the Agriculture Economics Research Centre. Singh has also been a visiting professor at leading institutions like Brown University, University of Hamburg, and Paris School of Economics, among others.In addition to his academic contributions, Singh has a strong research background, with a focus on law and economics, public finance, and taxation.

His studies on income reporting in India have been widely cited, reflecting his influence in both academic and policy-making circles.

Dr. Nagesh Kumar

Dr. Nagesh Kumar, a distinguished economist, is another fresh face to the apex bank’s MPC. Presently, Kumar is serving as Director and Chief Executive of the Institute for Studies in Industrial Development (ISID) and has a rich background in international economics and policy.

Prior to ISID, he held senior roles at the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), including Chief Economist and Director of Macroeconomic Policy.

Kumar’s extensive research includes over 120 peer-reviewed papers and 18 books on topics like foreign direct investment, international trade, and regional economic integration in Asia.

He has also served on the boards of prominent global organizations, including the EXIM Bank of India, the World Bank, and the Asian Development Bank.

Kumar holds a Ph.D. in economics from the Delhi School of Economics and has been recognized with prestigious awards, such as the Exim Bank’s International Trade Research Award.

Saugata Bhattacharya

Last but not the least, a noted economist with experience of over three decades, Saugata Bhattacharya is the latest addition to Das’ rate-setting team.

His extensive background ranges from economic analysis, policy advocacy, and consumer behaviour, making him a significant addition to the committee.

Before joining the MPC, Bhattacharya served as the Chief Economist and Executive Vice President at Axis Bank, where he specialized in financial markets and infrastructure finance. He also played a vital role at IDFC, contributing to the Prime Minister’s Task Force on Infrastructure.