The Reserve Bank of India (RBI) announced in Mumbai on Wednesday the appointment of Dr Ajit Ratnakar Joshi as its executive director, effective from March 3, 2025.

As RBI’s executive director, Joshi will supervise the Department of Statistics and Information Management as well as the Financial Stability Department. His role will involve ensuring the accuracy and reliability of statistical data used for policy formulation and overseeing financial stability measures critical to the banking sector, an RBI release stated.

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Earlier, Joshi served as Principal Adviser in the Department of Statistics and Information Management (DSIM).

With over three decades of experience, Joshi has worked extensively in the areas of statistics, information technology, and cyber risk management. He has also been a faculty member at the Institute for Development and Research in Banking Technology (IDRBT), Hyderabad. He has contributed to several committees and working groups related to macroeconomic statistics and policy issues, the release stated.

Joshi holds a master’s degree in statistics from Nagpur University and a PhD in monetary economics from IIT Madras. He has also completed a diploma in development policy and planning from the Institute of Economic Growth, Delhi, and is a Certified Associate of the Indian Institute of Banking and Finance (CAIIB), the release stated.

His expertise in statistics, financial stability, and policy research is expected to contribute significantly to RBI’s data-driven decision-making and regulatory framework, the release stated.