The lecture gives an overview of Monetary Policy making in India in a historical perspective. The monetary policy framework adopted by the RBI has changed over time, depending on the needs of the times and visions of the policy makers at the helm of affairs. It is against this backdrop the lecture will deliberate on the inflation targeting and also the recent monetary policy announcements.

Dr. Michael Debabrata Patra completed his Ph.D. in Economics from the Indian Institute of Technology, Mumbai. His Ph.D. thesis was titled “The Role of Invisibles in India’s Balance of Payments: A StructuralApproach”. As a Fellow of the Harvard University, he undertook post-doctoral research in the area of financial stability. He has had a distinguished career as a central banker since 1985 and has worked in various positions in the Reserve Bank of India. He is currently Executive Director of the Bank. He is also a member of the ‘Monetary Policy Committee’ of the Reserve Bank of India, which is invested with the responsibility of monetary policy decision making in India. Prior to this, he was Principal Adviser of the Monetary Policy Department, Reserve Bank of India since July 2012. He has worked in the International Monetary Fund (IMF) as Senior Adviser to Executive Director (India) during December 2008 to June 30, 2012, when he actively engaged in the work of the IMF’s Executive Board through the period of the global financial crisis and the ongoing Euro area sovereign debt crisis. His book titled ‘The Global Economic Crisis through an Indian Looking Glass’ vividly captures this experience. He has also published numerous papers in the areas of inflation, monetary policy, international trade and finance, including exchange rates and the balance of payments.

Please find the soft copy of the flyer of the Lecture in the link: