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Informist, Wednesday, Aug. 13, 2025

 

NEW DELHI - The Reserve Bank of India has allocated the Monetary Policy Department to Executive Director Indranil Bhattacharyya, as per the central bank's website, suggesting the Monetary Policy Committee could see a new member at the October meeting. The Monetary Policy Department was previously allocated to Executive Director Rajiv Ranjan, currently the third ex-officio member of the MPC.

 

Typically, the executive director in charge of the Monetary Policy Department is the third internal member of the MPC. According to media reports, Bhattacharyya is likely to replace Ranjan as the third internal member of the MPC, along with Governor Sanjay Malhotra and Deputy Governor Poonam Gupta. As per reports, Ranjan will retire before the October meeting of the MPC and the RBI's board is expected to approve Bhattacharyya's nomination to the MPC soon. 

 

Ranjan was the executive director in charge of the Monetary Policy Department since May 2022 and has now been moved to the Department of Economic and Policy Research. Bhattacharyya, who has now been allocated the Monetary Policy Department, was appointed as executive director in March and was allocated the Department of Economic and Policy Research.  End

 

Reported by Shubham Rana

Edited by Vandana Hingorani

 

 

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