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The Central Government has nominated Anuradha Thakur, Secretary of the Department of Economic Affairs, as a Director on the Central Board of the Reserve Bank of India, replacing Ajay Seth.
According to an official release issued on Friday, Thakur's appointment is effective from July 24, 2025, and will continue until further notice. Earlier in the day, RBI Governor Sanjay Malhotra highlighted that the Reserve Bank of India's monetary policies are forward-looking and the Monetary Policy Committee of India (MPC) will focus more on outlook than current data. The MPC is scheduled to hold a meeting on August 4-6, with monetary policy to be announced on August 6, 2025. Addressing the Financial Express BFSI Summit in Mumbai, Governor Sanjay Malhotra said, "Monetary policy being data-driven, more on the outlook will be guided by the revised numbers if any call is taken." He further added that, "I may mention over here that the stance of neutral allows them to give them the flexibility to move in either direction or even to have a pause, and the MPC will be looking at the data that comes in." During the event, the governor also commented on the RBI's effort to maintain price stability. Malhotra said, "Price stability continues to be a challenge number one, and I would say banking regulation, because that's our other area we're a full-service central bank, as they say, so apart from monetary policy, we do so many other things, including banking regulation." The RBI Governor also highlighted concerns about conflicts of interest and issues with corporate ownership, particularly when a single group owns businesses in both the financial sector (like banks) and the real economy (like manufacturing or retail)." While some NBFCs have deep pockets, if the same group is doing both financial and real-economy activities, there will be an inherent conflict of interest--these concerns remain," he said. (ANI)
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