Poonam Gupta Becomes RBI Deputy Governor: First Woman in Over a Decade
Poonam Gupta becomes the first woman in the position of Deputy Governor at the RBI in over a decade and the fourth woman in the history to hold the position.
Poonam Gupta – First Woman in Over a Decade – RBI – taxscan
Poonam Gupta – First Woman in Over a Decade – RBI – taxscan
The Appointments Committee of the Cabinet has approved the appointment of Dr. Poonam Gupta, Director General of the National Council for Applied Economic Research ( NCAER ), as the new Deputy Governor of the Reserve Bank of India ( RBI ). According to an official order issued by the Government of India, she will serve a three-year term.
Dr. Gupta becomes the fourth woman in RBI's history to hold the post of Deputy Governor, following in the footsteps of K.J. Udeshi, Shyamala Gopinath, and Usha Thorat. Unlike her predecessors, who were all career central bankers, Dr. Gupta comes from a distinguished background in economics and research. She is the First woman to get to this post in over a decade.
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A Distinguished Economist
Dr. Poonam Gupta brings a wealth of experience to the central bank’s leadership. She currently heads NCAER and is a member of the Prime Minister’s Economic Advisory Council. Her previous roles include stints at the International Monetary Fund (IMF) and the World Bank as a researcher. She has also served as an economics professor at the Delhi School of Economics and is the RBI Chair Professor at the National Institute of Public Finance and Policy (NIPFP).
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She holds a Ph.D. in Economics from the University of Maryland and a Master’s degree from the Delhi School of Economics. Dr. Gupta also convenes the advisory council for the 16th Finance Commission and has led several high-impact research projects on global macroeconomic trends.
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Filling a Key Vacancy in RBI’s Top Leadership
The RBI’s governing structure allows for a maximum of four Deputy Governors. Currently, the positions are held by Dr. Michael Patra, M. Rajeshwar Rao, and T. Rabi Sankar. The fourth post had been vacant and was earlier occupied by Dr. Patra himself, who is an economist and a long-serving RBI insider.
Dr. Gupta's appointment fills this important vacancy, with the expectation that she will oversee areas related to monetary policy, economic research, and possibly financial markets, traditionally associated with the economist’s seat in the central bank's hierarchy.
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Appointment Amid Mixed Reactions
The announcement has largely been met with praise, but there has been some media commentary about Dr. Gupta not being an “RBI insider.” Critics have raised questions about her familiarity with central banking operations, especially with the appointment coming just before an important Monetary Policy Committee (MPC) meeting.
But many experts believe her strong academic and global economic credentials will bring a fresh perspective to the RBI’s policy-making apparatus. Her background in applied economics and her strategic insights are expected to enrich the central bank's leadership team.
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With her appointment, RBI’s four-member Deputy Governor team is now complete. There is also growing anticipation around whether a woman will soon be appointed as the first female Governor of the RBI, though there is no official indication of this yet.
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