Ms. Usha Thorat is Deputy Governor of the Reserve Bank of India (RBI) since November 2005. Currently, her specific responsibilities include banking regulation and supervision, currency management and certain housekeeping areas. She represents the Reserve Bank of India at the Basel Committee on Banking Supervision (BCBS). She is the Reserve Bank’s representative nominated by the Government of India on the Board of Securities Exchange Board of India (SEBI), the country’s securities market regulator. She is also the Chairperson of the Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL), which manages two of the four currency note printing presses in the country.

Till recently, Ms. Thorat was the Chairperson of the Deposit Insurance and Credit Guarantee Corporation (2005-09) and a Director on the Board of National Bank for Agriculture and Rural Development (2005-09).

Born on February 20, 1950, Ms. Thorat has a Master's degree in Economics from the Delhi School of Economics.

Ms. Thorat joined the Reserve Bank in April 1972. Through her career spanning over 37 years in the Bank, she has had a stint in virtually each and every area of central banking. Her experience covers foreign exchange and reserves management, debt management of central and state governments, development and regulation of money, forex and government securities markets, rural planning and credit, cooperative banking, customer service and grievance redressal, and payment and settlement systems. She was also a Member of Faculty at the Reserve Bank's Staff College.

Prior to her elevation as Deputy Governor, she was the Executive Director of the Bank (since April 2003). As Executive Director, she represented RBI on the BIS Committee on Global Financial Systems (CGFS). She had also served as a member on the CPSS-IOSCO Task Force on Securities Settlement Systems (1999-2001).

Ms. Throat's hobbies include bird watching and yoga.

November 24, 2009

Smt. Usha Thorat takes over as RBI Deputy Governor