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 (RBI), replacing Ajay Seth.
According to an official release issued on Friday, Thakur’s appointment is effective from July 24, and will remain in effect until further notice.
Earlier in the day, RBI Governor Sanjay Malhotra stated that the Reserve Bank’s monetary policies are forward-looking, with the Monetary Policy Committee (MPC) placing greater emphasis on future outlook than on current data.
The MPC is scheduled to meet from August 4 to 6, with the monetary policy decision to be announced on August 6, 2025.
Speaking at the Financial Express BFSI Summit in Mumbai, Governor Malhotra said, “Monetary policy, being data-driven, will be guided more by the outlook, based on revised figures if any call is taken.”
He added, “The neutral stance allows the flexibility to move in either direction- or even to pause. The MPC will evaluate the data that comes in.”
During the event, the Governor also underscored the RBI’s primary challenge of maintaining price stability.
“Price stability continues to be challenge number one. I would also add banking regulation, because we are a full-service central bank. In addition to monetary policy, we oversee various aspects, including banking regulation,” he said.
Governor Malhotra also flagged concerns around conflicts of interest and corporate ownership-particularly when a single business group operates in both the financial sector (such as banks) and the real economy (such as manufacturing or retail).
“While some NBFCs have deep pockets, if the same group is involved in both financial and real-economy activities, it creates an inherent conflict of interest- these concerns remain,” he said.
-ANI
