Deepak Mohanty has been appointed as the Chairperson of the Pension Fund Regulatory & Development Authority (PFRDA).

He 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 executive order issued by the Department of Financial Services (DFS) in the Finance Ministry.

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

Earlier, 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. 

Prior to that, he had 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.

Mohanty had chaired several committees. He has a number of publications in professional journals, edited two books and has delivered several speeches on macro economy and monetary issues.

It may be recalled that the government had in August last year started the search for a successor to the erstwhile PFRDA Chairman Supratim Bandypadhyay, whose term ended in January this year.

PFRDA Chairperson holds office for five years or till the age of 65 years.

PFRDA whole-time member 

Meanwhile, the Centre has also appointed Mamta Shankar, IES (1993), Senior Economic Advisor in the Department of Food and Public Distribution to the post of Whole-Time Member (economics) in PFRDA.

Her appointment is valid for a period of three years or till she attains the age of 62 years or until further orders, whichever is the earliest, according to a DFS executive order. The post of Member (law) continues to be vacant at PFRDA.