Ms. Usha Thorat

Director, CAFRAL

Mrs. Usha Thorat, former Deputy Governor, Reserve Bank of India, took over as Director of the Centre for Advanced Financial Research and Learning (CAFRAL) in January 2011. CAFRAL is promoted by Reserve Bank of India as a centre of excellence for research and learning in the field of banking and finance.

After a career of nearly four decades with the Reserve Bank of India, Mrs. Usha Thorat retired in November 2010 as its Deputy Governor, a post which she held for five years. As Deputy Governor, Mrs. Thorat's specific responsibilities included banking regulation and supervision, rural and urban cooperative banks and currency management. She was also responsible for the developmental role of the RBI for facilitating inclusive growth, especially in regard to rural credit, SME and financial inclusion.

Prior to her elevation as Deputy Governor, Mrs. Thorat was the Executive Director of the Reserve Bank (since April 2003). As Executive Director, she represented Reserve Bank of India on the Bank for International Settlements' Committee on Global Financial Systems (CGFS). She had also served as a member on the CPSS‐IOSCO Task Force on Securities Settlement Systems (1999‐2001).

Mrs Thorat's hobbies include bird watching and yoga.