New Delhi: In a significant development for India’s financial landscape, the Centre has appointed Dr Poonam Gupta as the new Deputy Governor of the Reserve Bank of India (RBI) for a three-year term.

Poonam Gupta, a distinguished economist with a global reputation, steps into this critical role at a time when the central bank is navigating monetary policy shifts to bolster economic growth. Her appointment, announced on Wednesday, marks her as the first woman to hold this position in over a decade, bringing a wealth of experience from her illustrious career at the World Bank, the International Monetary Fund (IMF), and India’s economic policy circles.

As Deputy Governor, Poonam Gupta succeeds Michael Patra, who retired in January 2025 after leading the RBI’s monetary policy department. Gupta is expected to join the six-member Monetary Policy Committee (MPC), which recently cut interest rates for the first time in five years under Governor Sanjay Malhotra. Her appointment comes ahead of the MPC’s next meeting, scheduled for April 7-9, 2025, where her insights will likely shape discussions on further policy easing.

Poonam Gupta’s academic credentials are as impressive as her professional journey. She holds a PhD in International Economics from the University of Maryland, USA, which she completed in 1998, reflecting her deep understanding of global economic dynamics. Prior to that, she earned a Master’s degree in Economics from the Delhi School of Economics, University of Delhi, in 1991.