The Reserve Bank of India (RBI) has appointed Dr. Ajit Ratnakar Joshi as its new executive director from March 3, 2025. Joshi was until this promotion was got, the Principal Adviser in the Department of Statistics and Information Management (DSIM).
As an executive director, Joshi will be in charge of the Financial Stability Department, including the Department of Statistics and Information Management. His duties will include verifying the accuracy of statistical information used in policy making and enforcing financial stability measures that are important for the banking industry. It was stated that his role would be crucial in improving data analysis and regulatory supervision functions. Joshi has worked for more than three decades and has a wide range of experience in statistics, information technology and cyber risk management. He has also worked as a faculty member at the Institute for Development and Research in Banking Technology (IDRBT) in Hyderabad and has been associated with committees and working groups on macroeconomic statistics and policy issues. He has a master’s degree in statistics from Nagpur University and PhD in monetary economics from IIT Madras. Joshi is also a holder of a diploma in development policy and planning from the Institute of Economic Growth, Delhi, and is a Certified Associate of the Indian Institute of Banking and Finance (CAIIB). His knowledge in financial stability, policy research and statistical analysis is expected to improve RBI’s regulatory framework and strategic decision making. His nomination comes at a time when the RBI is seeking to enhance its financial stability measures in the face of growing economic risks. It is expected that his leadership will be a significant contribution to the development of India’s banking and financial services industry.
