World Bank President Ajay Banga has extended an invitation to Rakesh Mohan, a member of the Prime Minister’s Economic Advisory Council (EAC-PM), to become a member of the World Bank Group’s Economic Advisory Committee. The panel will be facilitated by Lord Nicholas Stern, an economist at the London School of Economics, according to a statement released by the Centre for Social and Economic Progress (CSEP) on Thursday. The co-chair will be Indermeet Gill, Senior Vice President for Development Economics and Chief Economist of the World Bank Group.
Rakesh Mohan holds the position of Honorary President and Distinguished Fellow at CSEP. The committee’s primary focus will be on strategic matters about the goals, research priorities, and activities of the World Bank Group. It will additionally offer guidance on significant matters emerging from the research and policy initiatives of the World Bank. Each member of the committee will serve a two-year term.
Rakesh Mohan served as a Senior Fellow at the Jackson Institute for Global Affairs at Yale University and held the position of ‘Professor in Practice’ of International Economics and Finance at the School of Management from 2010 to 2012. He was the Chairman of the National Transport Development Policy Committee of the Government of India with the rank of Minister of State from 2010-2014.
He was also Secretary of the Indian Ministry of Finance and Deputy Governor of the Reserve Bank of India between 2002 and 2009. In this capacity he co-chaired the G20 Working Group on “Enhancing Sound Regulation and Strengthening Transparency” (2009), and the CGFS Working Group on Capital Flows (2008–09). Rakesh Mohan has written three books on urban economics and urban development.
Rakesh Mohan has also written two books on monetary policy, Monetary Policy in the Global Economy: A Practitioner’s Perspective, and Growth with Financial Stability: Central Banking in an Emerging Market. Additionally, his book India Transformed: 25 Years of Economic Reforms came out in 2017.
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