Ajit Ratnakar Joshi Takes Over as RBI’s Executive Director, Effective March 3

The Reserve Bank of India (RBI) has appointed Dr. Ajit Ratnakar Joshi as its Executive Director (ED), effective March 3, 2025. The central bank announced the appointment on March 5, 2025.

Role and Responsibilities

In his new role, Dr. Joshi will oversee the Department of Statistics and Information Management (DSIM) and the Financial Stability Department. His responsibilities will include managing statistical data used for policy decisions and taking care of financial stability measures within the banking sector.

The Financial Stability Department monitors risks to the banking system and ensures financial resilience. The DSIM manages statistical analysis and provides data for monetary policy and regulatory decisions.

Previous Experience

Before his promotion, Dr. Joshi served as the Principal Adviser in the DSIM. He has over 30 years of experience in statistics, information technology, and cyber risk management. He has also been a faculty member at the Institute of Development and Research in Banking Technology (IDRBT), Hyderabad.

Additionally, he has contributed to multiple committees and working groups related to macroeconomic statistics and policy matters.

Educational Background

Dr. Joshi holds a master’s degree in statistics from Nagpur University and a Ph.D. in monetary economics from IIT Madras. He has also earned a diploma in Development Policy and Planning from the Institute of Economic Growth, Delhi. In addition, he is a Certified Associate of the Indian Institute of Banking and Finance (CAIIB).

Additional Government Appointment

In a separate development, former RBI Governor Shaktikanta Das has been appointed as Prime Minister Narendra Modi’s Principal Secretary-2. This is the first time two officials will serve as principal secretaries to the prime minister simultaneously.

According to the Appointments Committee of the Cabinet (ACC), Das’s term will be co-terminus with the PM’s tenure or until further orders.

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