Key Points:
- Historic Appointment: Poonam Gupta becomes the first woman RBI Deputy Governor in over a decade, succeeding Michael Patra.
- Vast Experience: Gupta brings over two decades of expertise from the IMF, World Bank, and top academic institutions.
- Three-Year Tenure: Appointed by the Appointments Committee of the Cabinet (ACC), her term will last three years.
- Educational Excellence: Holds a PhD from the University of Maryland and has taught at prestigious institutions like Delhi School of Economics.
New Delhi: In a significant development for India’s financial sector, economist Dr. Poonam Gupta has been appointed as the Deputy Governor of the Reserve Bank of India (RBI) for a three-year term. The position had been vacant since January 2025, following the retirement of Michael Patra. Gupta’s appointment marks a historic moment, as she becomes the first woman to hold this position in over a decade.
Who is Poonam Gupta?
Dr. Poonam Gupta is currently the Director General of the National Council of Applied Economic Research (NCAER), India’s largest economic policy think tank. She is also a member of the Prime Minister’s Economic Advisory Council and serves as the Convener of the Advisory Council to the 16th Finance Commission. Her career spans over 20 years, with senior roles at the International Monetary Fund (IMF) and World Bank in Washington, D.C., where she specialized in global macroeconomics and market research.
Gupta joined NCAER in 2021 and has since led groundbreaking research on economic growth, central banking, public debt, and macroeconomic stability. She also chaired India’s Task Force on Macroeconomics and Trade during its G20 Presidency.
Educational Background
Dr. Gupta’s academic credentials are equally impressive:
- PhD in International Economics (1998) and MA in Economics (1995) from the University of Maryland, USA.
- MA in Economics (1991) from Delhi School of Economics, University of Delhi.
- BA in Economics (1989) from Hindu College, Delhi University.
Her academic journey earned her accolades like the prestigious EXIM Bank Award for her doctoral research on international economics.
Career Highlights
Gupta has held several distinguished positions:
- Professor at Delhi School of Economics and Indian Council for Research on International Economic Relations (ICRIER).
- Visiting faculty at Indian Statistical Institute (ISI), Delhi.
- RBI Chair Professor at National Institute of Public Finance and Policy (NIPFP).
Her work extends to advisory roles with global organizations such as the World Bank’s Poverty & Equity group, NITI Aayog’s Development Advisory Committee, and FICCI’s Executive Committee.
Responsibilities at RBI
As Deputy Governor, Gupta will oversee critical departments such as monetary policy, financial markets operations, and economic research. She will also join the six-member Monetary Policy Committee (MPC), which is set to meet from April 7–9, 2025. Her expertise will be crucial as India navigates inflation management, currency stability, and economic growth challenges.
Gupta’s appointment comes at a pivotal time when the RBI is reviewing its inflation-targeting framework and considering monetary policy adjustments to stimulate growth. Analysts believe her global perspective will influence key decisions on exchange rates and monetary transmission mechanisms.
A New Chapter for RBI
Gupta’s appointment has been widely welcomed as a blend of academic rigor and practical experience. Her tenure is expected to bring fresh perspectives to India’s central banking strategies while reinforcing gender diversity at one of India’s most critical institutions. As she steps into this influential role, all eyes are on how she shapes India’s monetary policy landscape in the coming years.
