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MPC appointments: Govt names 3 economists to RBI policy panel

Government appoints PMEAC Member Ashima Goyal, Shashanka Bhide, Senior Advisor, National Council for Applied Economic Research and Jayanth Verma, Professor, Indian Institute of Management, Ahmedabad to the RBI panel that sets interest rates.

October 06, 2020 / 01:12 PM IST

Government has appointed PMEAC Member Ashima Goyal, Shashanka Bhide, Senior Advisor, National Council for Applied Economic Research and Jayanth Verma, Professor, Indian Institute of Management, Ahmedabad to the Reserve Bank of India's (RBI) panel that sets interest rates.

RBI's MPC meeting last week was postponed as external members of the MPC weren't appointed yet. On September 28, the Reserve Bank of India (RBI) notified that the upcoming meeting of the MPC, scheduled to start from September 29, has been postponed.

The three have replaced Pami Dua, Chetan Ghate, and Ravindra Dholakia.

Jayanth R. Varma

Varma is professor, Indian Institute of Management, Ahmedabad. He teaches courses in capital markets, fixed income, alternative investments, risk management and corporate finance. He has been the Dean of the Indian Institute of Management, Ahmedabad for three years.

Ashima Goyal

Goyal is widely published in institutional and open economy macroeconomics, international finance and governance, with more than a hundred articles in national and international journals. She has also authored and edited a number of books including Macroeconomics and Markets in Developing and Emerging Economies and A Concise Handbook of the Indian Economy in the 21st Century.

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Shashanka Bhide

He has a PhD in Agricultural Economics, Iowa State University. Currently, he is senior advisor, National Council for Applied Economic Research. He also serves as a member of the Board of Governors of the Institute for Social and Economic Change in Bangalore.

The MPC is tasked with RBI's monetary policy and setting of interest rates.

In its last MPC meeting in August, the MPC kept policy rates unchanged to help tame inflation that in recent times had surged past 6 percent mark, and said the economy is in an extremely weak condition following the COVID-19 pandemic.



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Moneycontrol News
first published: Oct 5, 2020 11:41 pm
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