Govt appoints ex-RBI official Mohanty as PFRDA Chairman

Mohanty will hold this post from the date of assumption of charge till attaining the age of 65 years or until further orders, whichever is earlier, according to an order issued by the Department of Financial Services (DFS), Finance Ministry.

Supratim Bandyopadhyay’s tenure as PFRDA Chairman ended in January. PFRDA’s total assets under management were Rs 8.81 lakh crore as on March 4, 2023.

Prior to this, Mohanty was the Whole-Time Member (Economics) of PFRDA for two years overseeing areas of development and regulation of pension funds.

PFRDA regulates the National Pension System (NPS), subscribed by employees of the Central government, State governments and by employees of private institutions, organizations and unorganised sectors.

He was an Executive Director at the Reserve Bank of India (RBI) overseeing areas of enforcement of banking regulation, risk management, internal audit and inspection, financial stability, monetary policy, economic research and statistics. He had also worked as Senior Adviser at the International Monetary Fund (IMF).

He also held various positions in economic research and was Head of the Monetary Policy Department in the RBI.