Meet the MPC's new members — Ashima Goyal, Jayanth R Varma, and Shankanka Bhide

The government on Monday appointed three eminent economists Ashima Goyal, Jayanth R Varma and Shankanka Bhide as members of the rate-setting Monetary Policy Committee of the RBI, sources said. The Appointments Committee of the Cabinet (ACC) headed by the Prime Minister approved the names, the sources said.

As per the RBI Act, the three new members would have four-year terms, the sources added.

The new members replace Chetan Ghate, professor at the Indian Statistical Institute; Pami Dua, director at the Delhi School of Economics (DSE); and Ravindra Dholakia, professor at the Indian Institute of Management, Ahmedabad.

Here’s what you need to know about the new additions to the MPC:
Goyal is a member of the Prime Minister’s economic advisory council. She was a visiting fellow at Yale university and is now a professor at the Indira Gandhi Institute of Development Research in Mumbai.

Bhide works with the New Delhi-based think-tank National Council for Applied Economic Research with a special focus on agriculture, poverty analysis and macroeconomics.

Varma is a finance and accounting professor at the Indian Institute of Management, Ahmedabad. He was formerly on the board of Securities and Exchange Board of India (SEBI), the country's capital markets' regulator.


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