IST,
Executive Director
Shri Sanjay Kumar Hansda
The Reserve Bank of India (RBI) has appointed Shri Sanjay Kumar Hansda as Executive Director (ED) with effect from March 03, 2025. Shri Hansda reported back to the Bank on October 06, 2025, on completion of his deputation as Senior Advisor to ED (India), International Monetary Fund (IMF).
Prior to being promoted as ED, Shri Hansda was serving as Adviser, Department of Economic and Policy Research. He also served as Adviser, Monetary Policy Department, and as Officer-in-Charge/Director, Internal Debt Management Department. He had a stint as Analyst (financial stability), Bank of England, on a secondment from the RBI.
As a career central banker and researcher, Shri Hansda has experience of over three decades spanning from banking sector, money and credit, interest rates and liquidity, growth and inflation, financial and capital markets, industry and services, national and monetary accounts, savings and flow of funds, sovereign/ sub-sovereign cash and debt management to G-20 issues, and inter-regulatory coordination. He served as member of the committees set up by the Bank of England, Committee on the Global Financial System (CGFS), and Government of India besides many internal/external committees/working groups.
As Executive Director, Shri Hansda will look after the Department of Economic and Policy Research.
Shri Hansda is a post-graduate in economics from Jawaharlal Nehru University and a diploma holder in financial services management from Jamnalal Bajaj Institute of Management Studies, University of Mumbai.
Departments under Executive Director Shri Sanjay Kumar Hansda
List of Previous Executive Directors
Shri S.C. Murmu
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Nov 01, 2019 - Oct 08, 2025
Dr. Rajiv Ranjan
The Reserve Bank of India (RBI) has appointed Dr. Rajiv Ranjan as Executive Director (ED) with effect from May 02, 2022.
Prior to being promoted as ED, Dr. Ranjan was serving as Adviser-in-Charge of Monetary Policy Department and Secretary to the Monetary Policy Committee.
Dr. Ranjan has an experience of more than three decades in macroeconomic policy and research including monetary policy, fiscal policy, real sector, external sector and international relations. He has worked in various departments of RBI including Monetary Policy Department, Department of Economic Policy and Research, Department of External Investments and Operations and International Department. He served as Economic Policy Expert in Central Bank of Oman for three years.
As Executive Director, Dr. Ranjan will look after the Monetary Policy Department (MPD).
Dr. Ranjan will also serve as an ex-officio member of the Monetary Policy Committee.
Dr. Ranjan has a Ph.D. in Economics from Mumbai University and holds a Masters degree in Economics from Delhi School of Economics.
Shri Jayant Kumar Dash
The Reserve Bank of India has appointed Shri Jayant Kumar Dash as Executive Director (ED) with effect from October 12, 2020.
Prior to being promoted as ED, Shri Jayant Kumar Dash was Chief General Manager-in-Charge of Department of Supervision, Central Office.
Shri Dash has, over a span of three decades, served in currency and debt management, deposit insurance and banking / non-banking supervision areas in the Reserve Bank.
As Executive Director, Shri Dash will look after Department of Regulation II.
Shri Dash holds a Master’s degree in Economics besides having earned professional qualifications in advance management, treasury management, fraud examination, data analytics, cyber law and tackling financial corruption.
Shri Muneesh Kapur
The Reserve Bank of India (RBI) has appointed Shri Muneesh Kapur as Executive Director (ED) with effect from October 3, 2023.
Prior to being promoted as ED, Shri Kapur was Adviser-in-Charge, Monetary Policy Department and Secretary to the Monetary Policy Committee.
Over a span of nearly three decades in the Reserve Bank, Shri Kapur has worked in the areas of macroeconomic policy and research and monetary policy in Department of Economic and Policy Research and Monetary Policy Department in RBI. He also served as Adviser to Executive Director, International Monetary Fund during 2012-15.
As Executive Director, Shri Kapur will look after the Department of Economic and Policy Research.
Shri Muneesh Kapur holds a Master’s degree in Economics and is a Certified Associate of the Indian Institute of Bankers (CAIIB).
Dr. O.P. Mall
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Jun 01, 2020 - Feb 28, 2025
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