Former IMF Advisor Sanjay Kumar Hansda Appointed as Executive Director at RBI
Hansda brings with him a track record across monetary policy, debt management, and economic modeling.
Former - IMF - Sanjay Kumar Hansda - Executive Director - RBI - taxscan
Former - IMF - Sanjay Kumar Hansda - Executive Director - RBI - taxscan
The Reserve Bank ofIndia (RBI) has appointed Sanjay Kumar Hansda as Executive Director (ED).
Hansda had been on deputation as Senior Advisor to the Executive Director (India) at the International Monetary Fund (IMF) and had formally returned to the central bank on October 6, 2025. The RBI has stated that Hansda's appointment shall be retrospectively effective, from March 3, 2025 onwards.
The newest appointee to the prestigious position of Executive Director at the RBI brings with him a plethora of experience, including a stint as Adviser in the Department of Economic and Policy Research (DEPR).
Over his career, he has served in multiple key positions including Adviser, Monetary Policy Department and Officer-in-Charge / Director, Internal Debt Management Department.
Hansda also served as an Analyst (Financial Stability) at the Bank of England, on secondment from the RBI.
During Hansda’s tenure at the IMF, he was involved in key policy interactions including jointly questioning IMF’s reclassification of India’s exchange rate regime.
In December 2023, India’s then-Executive Director at IMF, K.V. Subramanian, along with Senior Advisors Sanjay Kumar Hansda and Anand Singh had contested the rationale behind the IMF’s decision to treat the rupee’s exchange arrangement as a “stabilised arrangement.” They argued that the classification did not align with India’s policy framework and intervening strategy in forex markets.
This episode underscores Hansda’s direct involvement in macro-economic and external sector debates even before assuming his new role at RBI.
As per the List of Executives maintained by RBI, Sanjay Kumar Hansda now holds the post of Executive Director assigned to the Department of Economic and Policy Research (DEPR). Thus, in his new role, he will oversee the central bank’s economic analysis, research and policy advisory functions within the department.
Hansda’s elevation is significant: considering his deep institutional experience within RBI with exposure to international policy frameworks via the IMF. His leadership in DEPR could further aid the reserve bank’s ability to integrate domestic economic research with global trends.
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