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Date : Nov 10, 2005
Smt. Usha Thorat takes over as RBI Deputy Governor


Smt. Usha Thorat has today taken over as Deputy Governor of the Reserve Bank of India. Her appointment is for a period of five years.

Smt. Thorat held the post of Executive Director of the RBI since April 2004.

Born on February 20, 1950, Smt. Thorat received her masters degree in economics from Delhi School of Economics.

Smt. Thorat, who joined the Reserve Bank in April 1972, has vast experience in cash and debt management of central and state governments, government securities market development and regulation, financial markets, forex reserve management, foreign exchange management, banking regulation and supervision and payment and settlement systems. She was a member of faculty at Reserve Bank Staff College and has also served in the RBI's Guwahati Office.

She has been on the boards of Bank of Baroda, Indian Overseas Bank and the Securities Trading Corporation of India.

Smt. Thorat was on important Committees of RBI, viz., Group on Instruments of Sterilisation, Group of State Finance Secretaries on Fiscal Risk of Guarantees, Group on Ways and Means Advances to State Governments and Committee on Capital Account Convertibility.

She is presently member of the Committee on Global Financial Systems of the Bank for International Settlements and also served as a member of the International Task Force on Security Settlement Systems set up by the International Organisation of Securities Commissions of the Bank for International Settlements.

Smt. Thorat's hobbies include bird watching and yoga.

G. Raghuraj
Deputy General Manager

Press Release : 2005-2006/572