The Reserve Bank of India (RBI) Executive Director Rajiv Ranjan has been appointed Vice President of the New Development Bank - a multilateral development bank established by the BRICS nations (Brazil, Russia, India, China, and South Africa). The RBI ED Rajiv Ranjan was appointed as the Vice President and Chief Risk Officer of the New Development Bank for a term of five years. He will take charge in September 2025.
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| RBI Executive Director Rajiv Ranjan Appointed As Vice President of New Development Bank |
New Development Bank Appoints Rajiv Ranjan As Vice President and Chief Risk Officer
The New Development Bank - a multilateral development bank established by the BRICS nations (Brazil, Russia, India, China, and South Africa) has appointed Rajiv Ranjan as Vice President and Chief Risk Officer for a five-year term.
Rajiv Ranjan is currently serving as the Executive Director of the Reserve Bank of India (RBI).
About Rajiv Ranjan Vice President of NDB
Dr. Rajiv Ranjan is a career central banker with over 35 years of experience. Having started his stint with the Reserve Bank of India (RBI) in 1989, he has served as an Executive Director and a Member of the Monetary Policy Committee (MPC) since May 2022.
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Previously, as Head of the Monetary Policy Department and Secretary to the MPC, Dr. Rajiv Ranjan played a key role in monetary policy and liquidity related functions. His extensive professional experience includes leading the Department of Economic and Policy Research with a focus on data-driven policy research, serving as an Economic Policy Expert in the Central Bank of Oman (2012-15), and assignments in the International Department and the Department of External Investments and Operations of the Reserve Bank.
Expertise of Rajiv Ranjan Vice President of NDB
The Vice President of New Development Bank (NDB) Rajiv Ranjan expertise in the areas of macroeconomic policies including monetary, fiscal and external policies; financial market operations; risk management; foreign exchange and bond market; and international economic affairs has contributed significantly to India’s economic governance. Dr. Rajiv Ranjan also brings a wealth of experience in working with major multilateral financial institutions and groupings such as the G20, IMF, World Bank, BIS, FSB, OECD, SAARC and central banks from the Global South.
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Educational Life of Rajiv Ranjan Vice President NDB
Dr. Rajiv Ranjan holds a master’s degree in economics from the Delhi School of Economics, University of Delhi and a PhD in Economics from the University of Mumbai.
About New Development Bank (NDB)
The New Development Bank (NDB) is a multilateral development bank established by Brazil, Russia, India, China, and South Africa (BRICS) headquartered in Shanghai, China.
Established in 2015, the NDB has built a credible institutional profile, supported by its diverse portfolio of infrastructure and sustainable development projects and strong international credit ratings.
Objective of NDB
The objective of the New Development Bank (NDB) is to mobilize resources for infrastructure and sustainable development projects in emerging markets and developing countries (EMDCs).
About Reserve Bank of India (RBI)
The Reserve Bank of India was established on April 1, 1935 according to the provisions of the Reserve Bank of India Act, 1934. The headquarters of the Reserve Bank was initially established in Kolkata but was permanently moved to Mumbai in 1937.
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Initially the bank was privately owned, but since nationalization in 1949 it is fully owned by the Government of India.
Governor of RBI
The current Governor of the Reserve Bank of India is Sanjay Malhotra. He replaced Shaktikanta Das as the governor.
Deputy Governor of RBI
The 4 Deputy Governors are appointed in the Reserve Bank of India (RBI), who are as follows.
- M. Rajeshwar Rao
- T. Rabi Sankar
- Swaminathan J
- Dr Poonam Gupta
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Static Current Affairs related to RBI for upcoming exams
- Establishment: 1 April 1935
- Headquarters: Mumbai, Maharashtra
- Governor: Sanjay Malhotra
- Deputy Governor: Swaminathan J, M. Rajeshwar Rao, T. Rabi Sankar and Poonam Gupta
- Ownership: Ministry of Finance , Government of India
Static Current Affairs related to New Development Bank for upcoming exams
- Formation: July 2014 (Treaty signed); July 2015 (Treaty in force)
- Headquarters: Shanghai, China
- President: Dilma Rousseff
- Vice President: Rajiv Ranjan
- Founding Member Countries: Brazil, Russia, India, China & South Africa
- New Members: Bangladesh, United Arab Emirates, Egypt & Algeria
- Prospective Members: Uruguay
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