(Bloomberg) – Menaka Doshi signs the Indian version of the newsletter – an insider guide to emerging economic powers, delivering billionaires and businesses every week.
Former World Bank economist Poonam Gupta was appointed deputy governor of the Reserve Bank of India, filling key positions in the central bank as it relaxed monetary policy.
An Indian official said in New Delhi on Wednesday that Gupta was appointed for three years. For ten years, she became the first deputy governor of the Reserve Bank of India.
Gupta is a well-known economist and government consultant, working for nearly two decades at the World Bank and the International Monetary Foundation. She replaced Michael Patra, who heads the monetary policy division of the Reserve Bank of India (RBI), and retired in January.
Gupta may join the Monetary Policy Committee, which cut interest rates for the first time in five years under New Governor Sanjay Malhotra in February. Economists expect a slowdown to be slower next week as Malhotra is more friendly with his predecessor, Shaktikanta Das.
Gupta is a part-time member of the Prime Minister’s Economic Advisory Committee and director of the National Committee for Applied Economic Research, a think tank in New Delhi. In recent articles, she advocates increasing exchange rate flexibility to prevent shocks.
“In recent years, policy responses have shifted more to the use of reserves,” she wrote in a March newspaper. “This should be revisited to mitigate the shock faster,” she said.
Gupta also favors price stability and recommends updating the weight of food prices in the inflation basket. Her views will be very important as the Reserve Bank of India and the federal government review the inflation framework in March 2026.
(Update more details about Gupta in paragraph 3.)
More stories like this are available Bloomberg.com
