If all had gone according to her parents’ wishes, India would be short of another economist in its already dwindling group of brainiacs. But things took a different turn when Prachi Mishra decided to skip the Civil Service examination, which is a must in most Bihari families, and chose economics instead.
Since then, it’s been an uphill climb for her, digging deep into International and Indian economic policies and research. Today she’s “the person” in the economic circles in India. The 40-year old economist joined the Reserve Bank of India as Chief General Manager in November 2014, and is now looking to make progress on the ongoing tussle between banks and the RBI, on interest rates. Though this research could take long, finding a common ground could be possibly revolutionary.
She was deemed as a high achiever who was chosen from 58 candidates who had applied for the post of specialist advisor (research) in the RBI. And quite truly her qualifications seem extraordinary; she topped the Delhi School of Economics with a Masters degree in 1999. Then she went on to Columbia University to get an MPhil and PhD in Economics. She was Senior Economist, Monetary and Capital Markets for the International Monetary Fund till September 2013. She has also served on the Economic Advisory Council to the Prime Minister. And now that she’s with the Reserve Bank of India, the country’s central banking institution, she is trying to bring more vigor and newer perspective into its working.
Last month at a press conference, RBI Governor Raghuram Rajan spoke out about the lack of economists in India. After which, he added how the Indian economy could use all the help it gets, especially with the dwindling rate of the rupee and its internal crises. He then added that economists like Dr Prachi Mishra give our system the right kind of hope that can help the economy recover and prosper.
Image Source: BSE Investor Group
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