RBI forms expert panel to benchmark its statistics with global standards

The Reserve Bank of India (RBI) has set up an expert committee to benchmark its regularly disseminated statistics against global standards and best practices, assess the quality of other routine data in sectors where such benchmarks are absent, and provide guidance on potential areas for further data refinement, it said in a release on Monday.

The expert committee, chaired by the RBI Deputy Governor Michael Debabrata Patra, will consist of 10 members. The panel will submit its report by the end of November 2024.

RBI's Executive Director, O P Mall, has been appointed as the convenor of the committee.

The panel will include R B Barman, former chairman of the National Statistical Commission; Sonalde Desai from NCAER; Partha Ray, director of the National Institute of Bank Management; Bimal Roy, former director of the Indian Statistical Institute; and Paul Schreyer, former statistician at the OECD. Additionally, Sudarshan Sen, former executive director of the RBI; Bruno Tissot, head of statistics and research support at BIS; and Muneesh Kapur, executive director at the RBI, will be part of the panel.