On August 23, 2025, the Board of Governors of the New Development Bank (NDB) appointed Dr. Rajiv Ranjan as Vice-President of the NDB for a five-year term.
Dr. Rajiv Ranjan is a career central banker with over 35 years of experience. Having started his stint with the Reserve Bank of India (RBI) in 1989, he has served as an Executive Director and a Member of the Monetary Policy Committee (MPC) since May 2022.
Previously, as Head of the Monetary Policy Department and Secretary to the MPC, Dr. Rajiv Ranjan played a key role in monetary policy and liquidity related functions. His extensive professional experience includes leading the Department of Economic and Policy Research with a focus on data-driven policy research, serving as an Economic Policy Expert in the Central Bank of Oman (2012-15), and assignments in the International Department and the Department of External Investments and Operations of the Reserve Bank.
His expertise in the areas of macroeconomic policies including monetary, fiscal and external policies; financial market operations; risk management; foreign exchange and bond market; and international economic affairs has contributed significantly to India’s economic governance. Dr. Rajiv Ranjan also brings a wealth of experience in working with major multilateral financial institutions and groupings such as the G20, IMF, World Bank, BIS, FSB, OECD, SAARC and central banks from the Global South.
In addition to several publications on contemporary economic and developmental issues in leading academic journals, he has also co-authored three books.
Dr. Rajiv Ranjan holds a master’s degree in economics from the Delhi School of Economics, University of Delhi and a PhD in Economics from the University of Mumbai.