The Reserve Bank of India (RBI) on Monday appointed Neeraj Nigam as executive director (ED). The newly appointed ED will be in charge of four departments, including that consumer education and protection.
 Before being promoted to ED, he was heading the Bhopal regional office of the RBI as director. He has also served as the General Manager of the central bank before this.

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Nigam has been serving the RBI over a span of more than three decades and has headed various departments like Regulation and Supervision, human resource management, premises, currency management, bank accounts, and other areas in the Reserve Bank, in its central office as well as regional offices.

Currently, as the ED, he will be in charge of the consumer education and protection department; financial inclusion and development department, legal department, and Secretary's department, the RBI said in a statement.

He has completed his  Bachelor's degree in civil engineering from Barkatullah University, Bhopal besides having earned the professional qualification of Certified Associate of the Indian Institute of Banking and Finance (CAIIB).

Before this, the central bank also announced the appointment of two Executive Directors in May 2022. These are Dr. Rajiv Ranjan and Dr. Sitikantha Pattanaik. The new position came into effect on May 1, 2022.

 

Upcoming RBI meeting: Expectations

 

The Monetary Policy Committee (MPC) of the RBI has begun today and will continue for three days on April 3, 5, and 6. This is the first bi-monthly monetary policy for fiscal 2023-24. The central bank has already increased the repo rate by a total of 250 basis points since May, as a measure to curb the worsening inflation. The inflation continued to remain above the central bank's comfort zone of 6 per cent for most of the time since April 2022. As Zee Business spoke to various economists, it is expected that the RBI will increase the repo rate this time by 25 bps following the footsteps of the Fed. The Fed in its last meeting raised the repo rate by 25 bps. However, economists predict that the rate hike cycle for the RBI is likely to continue till December 2023.

 

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