The Reserve Bank of India (RBI) on Friday said its Central Board has approved the nomination of Executive Director Indranil Bhattacharyya as an ex-officio member of the Monetary Policy Committee (MPC). The decision came at the 618th meeting of the Central Board of Directors held in Lucknow, chaired by Governor Sanjay Malhotra.Indranil Bhattacharyya was appointed as the Executive Director of RBI's Monetary Policy Department on March 19, 2025. He is said to replace Rajiv Ranjan, who has been shifted to lead the Department of Economic & Policy Research, ET Now had reported. The Board reviewed the global and domestic economic environment, including geopolitical developments and financial market challenges, the RBI said in a statement. It also assessed the functioning of select central office departments, board committees, and the Ombudsman Scheme. Deputy Governors M. Rajeshwar Rao, T. Rabi Sankar, Swaminathan J. and Poonam Gupta were present at the meeting along with government representatives Nagaraju Maddirala, Secretary, Department of Financial Services, and Anuradha Thakur, Secretary, Department of Economic Affairs. Other directors including Satish K. Marathe, Revathy Iyer, Sachin Chaturvedi, Anand Mahindra, Pankaj Ramanbhai Patel and Ravindra H. Dholakia also attended the meeting.
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