Draft:Rajiv Ranjan

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Rajiv Ranjan is an Indian Economist and a serving Officer of the Reserve Bank of India (RBI). He is currently an Adviser and Officer-in-Charge of the Department of Economic and Policy Research at the Reserve Bank of India.[1]. As an economist, he specializes in monetary economics, international economics and public finance. In the past, he has also worked as an Economic Policy Expert at the Central Bank of Oman (on deputation from RBI) and has represented RBI at both national and international level including various committees set up by the RBI.

Early life and education[edit]

Rajiv Ranjan received his M.A. in Economics from Delhi School of Economics. He joined the RBI as a Research Officer in 1989. He completed his PhD in Economics from University of Mumbai in 2001. In his thesis on “Modeling Capital Account of India’s Balance of Payments within the Framework of the Macroeconomic Model of the Indian Economy”, he developed a macroeconomic model which attempted to model capital account of India's BoP in line with the changing role of the capital account in India's external sector.

Career and research[edit]

After joining the RBI in 1989, he first worked in the area of international trade and finance in the economic research department of RBI. Later, as an assistant adviser, Ranjan worked in the operations side of foreign-exchange reserves and investment management. He also twice headed the International Relations team at the RBI during 2004-2007 and again in 2010-2012 which served as nodal point to co-ordinate the work relating to the G20, Bank for International Settlements (BIS), OECD, World Bank, Asian Development Bank (ADB), SAARC and other multilateral institutions. He also worked closely with the Government of India (GOI) on preparing India’s position on issues deliberated in the G-20 Forum and the International Monetary Fund (IMF), while also playing a key role in Article IV consultations with the IMF. During this stint as a Director, he worked with on the Indo-US Dialogue, Indo-EU Dialogue and Indo-China Dialogue.

Between 2012 to 2015, Rajiv went on deputation to the Central Bank of Oman (CBO) as an Economic Policy Expert. He was involved policy research, advisory and training at the CBO. After coming back from Oman, he was promoted to rank of Adviser in 2017. In 2018, Rajiv Ranjan was made the head of the economic research department of the RBI which he continues to lead till date. Currently, he is also a member on the Task Force on Offshore Rupee Markets established by the RBI under Usha Thorat, former Deputy Governor of RBI as chairperson[2]

His research has been mainly focused in the domain of international economics and public finance. In particular, he has worked on issues related to balance of payments (BOP), capital account management and sustainability, exchange rate modelling and fiscal policy. His research has been published in the form of RBI working papers, academic papers in peer-reviewed journals and books[3][4][5].


  1. ^ "RBI - About Us/Departments/DEPR". RBI.
  2. ^ "Task Force of Offshore Rupee Markets".
  3. ^ "Author, EPW".
  4. ^ "Re-emerging India".
  5. ^ "Exchange rate policy and modelling".