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  • Shri B.P. Kanungo, Director, CAFRAL and Research Team with other delegates at CAFRAL Research Annual Conference: The Financial System and Macroeconomy in Emerging Economies on December 12-13, 2024 | Mumbai

  • Prof. Amiyatosh Purnanandam, Micheal Stark Professor of Finance, Ross School of Business, University of Michigan at CAFRAL Research Annual Conference: The Financial System and Macroeconomy in Emerging Economies on December 12-13, 2024 | Mumbai

  • Shri J K Pandey, Senior Program Director, CAFRAL, Dr. Sitikantha Pattanaik, Former Executive Director, Reserve Bank of India, other speakers and Participants at CAFRAL Advanced Leadership Program (CALP)| October 04-05, 2024 | Mumbai (Indian Leg)

  • Shri J K Pandey, Senior Program Director, CAFRAL, Tarun Kumar Singh, Chief General Manager, Department of Supervision, Reserve Bank of India, other speakers and Participants at CAFRAL Program on Compliance for Officers in Banks, FIs and NBFCs| September 24, 2024 | Mumbai

  • Shri Ashwani Bhatia, Whole Time Member, Securities and Exchange Board of India (SEBI), Shri C. Sankaranarayanan, Senior Program Director, CAFRAL, other speakers and Participants at CAFRAL Program for Non-Executive Chairman & Directors of the Boards of Banks/NBFCs/FIs| August 21-22, 2024 | Mumbai

  • Shri B P Kanungo, Director, CAFRAL with other speakers and participants at CAFRAL Conference of Chief Compliance Officers – Expectations in the emerging compliance landscape on May 15-16, 2024 | Mumbai

About Cafral


The Centre for Advanced Financial Research and Learning (CAFRAL) is an independent body set up by the Reserve Bank of India (RBI) in the backdrop of India’s evolving role in the global economy, in the financial services sector and its position in various international fora. CAFRAL seeks to develop into a world class global institution for research and learning in banking and finance.

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Governing Council

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Shri Sanjay Malhotra (Chairman)
Governor, Reserve Bank of India
Shri Sanjay Malhotra, an Indian Administrative Service Officer of 1990 Batch Rajasthan Cadre, took over charge as the 26th Governor of the Reserve Bank of India..
Shri Swaminathan Janakiraman
Deputy Governor, Reserve Bank of India
Shri Swaminathan Janakiraman, was appointed as the Deputy Governor of the Reserve Bank of India in June 2023...
Dr. Poonam Gupta
Deputy Governor, Reserve Bank of India
Dr. Poonam Gupta took over as the Deputy Governor of the Reserve Bank of India. The Government of India on April 02, 2025...
Prof. Partha Ray
Director, National Institute of Bank Management (NIBM)
Prof. Partha Ray joined NIBM as Director in May 2021. He was Professor of Economics at the Indian Institute of Management Calcutta ...
Dr. Sajjid Z. Chinoy
Managing Director and Chief India Economist, J.P. Morgan
Dr. Sajjid Z. Chinoy is Managing Director and Chief India Economist at J.P. Morgan, and a member of the Economic Advisory Council...
Dr. Ravindra H. Dholakia
Director, Central Board of RBI
Dr. Ravindra H. Dholakia has experience of teaching, research, training and consultancy for about 45 years at IIM Ahmedabad (1985 to 2018); M.S. University of Baroda...
Dr. Pami Dua
Senior Professor of Economics and Former Director, Delhi School of Economics
Dr. Pami Dua is Senior Professor of Economics and Former Director of the Delhi School of Economics...
Prof N. R. Bhanumurthy
Director, Madras School of Economics, Chennai
Prof N. R. Bhanumurthy is currently the Director of Madras School of Economics, Chennai. Earlier he served as first Vice-Chancellor...
Shri Eugene Emmanuel Karthak
Director, Indian Institute of Bank Management (IIBM)
Shri Eugene Emmanuel Karthak joined as Director of IIBM in December 2021. He was earlier Executive Director, Reserve Bank of India...
Dr. Rajiv Ranjan
Director, CAFRAL
Dr. Rajiv Ranjan is the Executive Director and member of the Monetary Policy Committee (MPC) of the Reserve Bank of India since May 2022...

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