The Reserve Bank of India (RBI) has announced the appointment of Muneesh Kapur as Executive Director (ED), effective from October 3, 2023. In his new role, Kapur will oversee the Department of Economic and Policy Research.
Before his promotion to the position of Executive Director, Kapur served as Adviser-in-Charge of the Monetary Policy Department and was the secretary to the Monetary Policy Committee. His extensive experience and contributions to the RBI were highlighted in the Reserve Bank’s official statement.
“Over a span of nearly three decades in the Reserve Bank, Kapur has worked in the areas of macroeconomic policy and research and monetary policy in the Department of Economic Policy and Research and Monetary Policy Department in RBI,” the statement read.
Muneesh Kapur has also previously served as Adviser to the Executive Director at the International Monetary Fund (IMF) during the period from 2012 to 2015. His educational background includes a Master’s degree in Economics, and he holds the designation of Certified Associate of the Indian Institute of Bankers (CAIIB).
The Department of Economic and Policy Research is a significant knowledge center within the RBI, focused on macroeconomic policy-oriented research. It plays a crucial role in providing research inputs and management information system (MIS) services for policy-related decision-making.
The department’s research agenda primarily centers on the macroeconomic challenges confronting the Indian economy. It covers various multidimensional aspects, including monetary policy, growth and inflation dynamics, financial markets, macroeconomic forecasting, banking sector analysis, financial stability, and external sector management.
Furthermore, the Department of Economic and Policy Research is responsible for publishing the Reserve Bank’s statutory reports, including the Annual Report and the Report on Trend and Progress of Banking in India. It also publishes other essential publications, such as State Finances: A Study of Budgets, the Reserve Bank of India Bulletin, the Handbook of Statistics on Indian States, and RBI Occasional Papers. The department also contributes to the dissemination of long-time series data on macroeconomic variables through print and electronic media.
Muneesh Kapur’s appointment as Executive Director underscores the RBI’s commitment to maintaining robust macroeconomic policy research and informed decision-making, reaffirming its pivotal role in India’s central banking and monetary policy landscape.