Profile of Central Board Directors
Shri Natarajan Chandrasekaran
Shri Bharat Narotam Doshi
Shri Sudhir Mankad
Dr. Ashok Gulati
Shri Manish Sabharwal
Shri Rajiv Kumar
Dr. Prasanna Kumar Mohanty
Shri Dilip S. Shanghvi
Shri Satish Kashinath Marathe
Prof. Sachin Chaturvedi
Ms. Revathy Iyer
Shri Swaminathan Gurumurthy
Shri Atanu Chakraborty

Shri Natarajan Chandrasekaran

Shri Natarajan Chandrasekaran (53) is Chairman of the Board of Tata Sons, the holding company and promoter of more than 100 Tata operating companies He joined the Board of Tata Sons in October 2016 and was appointed Chairman in January 2017. Shri Chandrasekaran also chairs the Boards of several Tata group operating companies, including Tata Steel, Tata Motors, Tata Power, and Tata Consultancy Services (TCS) – of which he was Chief Executive from 2009-17.

Shri Chandrasekaran was appointed as a Director on the Central Board of Reserve Bank of India in 2016. He has also served as the Chairperson of the Information and Communication Technology Industry Governors at the World Economic Forum, Davos in 2015-16. Shri Chandrasekaran is an active member of India’s bilateral business forums including USA, UK, Australia and Japan. He served as the chairman of NASSCOM, the apex trade body for IT services firms in India in 2012-13.

His business leadership has been recognized by several corporate and community organizations, and he has received numerous awards, including:

- Business Leader of the Year at the ET Awards for Corporate Excellence 2016;
- CNBC TV 18 - ‘Indian Business Icon', 2014;
- CNN-IBN Indian of the Year 2014 (business category);
- Best CEO for 2013 and 2014 by Business Today; and,
- Best CEO 2010-15 Institutional Investor’s Annual All-Asia Executive Team rankings;

Shri Chandrasekaran has been awarded several honorary doctorates by leading universities in India and internationally. He attended the Regional Engineering College, Trichy, Tamil Nadu, where he completed a Masters degree in Computer Applications before joining TCS in 1987. He is an avid photographer, and a passionate long-distance marathon runner.

Born in 1963, Shri Chandrasekaran lives in Mumbai, with his wife Lalitha. They have a son, Pranav, who is currently pursuing undergraduate studies.

Shri Natarajan Chandrasekaran
Shri Bharat Narotam Doshi
Shri Bharat Narotam Doshi

Shri Bharat Narotam Doshi is a Fellow Member of the Institute of Chartered Accountants of India and the Institute of Company Secretaries of India and holds a Master’s degree in Law from Bombay University. He is an alumnus of Harvard Business School (PMD) and Fellow of the Salzburg Seminar on "Asian Economies: Regional and Global Relationships".

Shri Doshi is a former Executive Director and Group CFO of Mahindra & Mahindra Limited. He was also the Chairman of Mahindra & Mahindra Financial Services Limited since April 2008 and he stepped down from this position on his nomination as director on the Central Board of Directors of the Reserve Bank of India in March 2016.

He is the Chairman of Mahindra Intertrade Limited.

He is also an Independent Director of Dr. Reddy’s Laboratories Limited.

Shri Doshi is also on the Governing Board of The Mahindra United World College of India, K.C. Mahindra Education Trust and Mahindra Foundation. He was on the Board of Gateway House: Indian Council on Global Relations, a foreign policy think tank in Mumbai.

Over the last 35 years, Shri Doshi has been actively involved with the work of chambers of commerce and industry being a member of various expert committees. He served as the President of Bombay Chamber of Commerce and Industry for the year 2009-10.

He was a member of the High Powered Expert Committee constituted by the Ministry of Finance, Government of India, on Making Mumbai an International Financial Centre. He was a Member of Reserve Bank of India (RBI) constituted Working Group to examine a range of emerging issues pertaining to regulation of the NBFC (non-banking financial companies) sector and was also a Member of the RBI constituted Committee on Comprehensive Financial Services for Small Businesses and Low-Income Households (CCFS). He was a member of the SEBI (Securities and Exchange Board of India) Committee on Disclosures and Accounting Standards (SCODA). He currently serves on the Advisory Board of Excellence Enablers, an organization committed to promoting corporate governance in India.

Shri Doshi’s career achievements have earned him several awards and accolades, including being adjudged “India’s Best CFO” by Business Today, “CFO of the Year” by IMA India in 2005 and in 2007 by CNBC and induction by CFO India as a Founding Member to the CFO Hall of Fame in recognition of an exemplary career and a lifetime of contribution to the field of Finance.

Shri Sudhir Mankad

Shri Sudhir Mankad IAS (retd), holds Masters in History from University of Delhi, and Diploma in Development Studies from Cambridge University. He joined IAS in 1971 and served in various capacities, mainly in Education and Finance departments, both in Government of India and Gujarat. His last assignment was as Chief Secretary, Govt of Gujarat. After retirement from service in August 2007, he was appointed non executive Chairman of Gujarat International Finance Tec-(GIFT) City Ltd, which was recently notified as India’s first IFSC. He serves as an independent director on several companies. He is also Chairman of Gujarat Institute of Desert Ecology Bhuj, Indian Institute of Public Health, Gandhinagar and Vice President of Charutar Arogya Mandal, Karamsad. He is a member of Board of Governors of Navrachna University, Vadodara. He assists and advises Pratham, Gyanshala and America India Foundation in their work in education sector in Gujarat. He is currently serving as a member of the Committee to formulate New Education Policy.

Shri Sudhir Mankad
Dr. Ashok Gulati

Dr. Ashok Gulati

Ashok Gulati is currently Infosys Chair Professor for Agriculture at Indian Council for Research on International Economic Relations (ICRIER). He is a well-known Indian agricultural economist and a former Chairman of the Commission for Agricultural Costs and Prices (CACP) (GoI) (2011-14).

He was Director at the International Food Policy Research Institute (IFPRI) for more than 10 years (2001-11), first heading the Markets, Trade and Institutions Division (2001-06), and then IFPRI's Asia office in Delhi (2006-11). During his stint at IFPRI, he garnered expansive worldwide exposure, undertaking and guiding research in Asia, Africa and Latin America. He also worked as a NABARD Chair Professor at the Institute of Economic Growth (1998-2000), and prior to that he was the Director/Chief Economist, Agriculture and Rural Development at National Council of Applied Economic Research (NCAER) from 1991 till 1997.

Dr. Gulati has been deeply involved in policy analysis and advice in India for a long number of years. He was the youngest member of the Prime Minister’s Economic Advisory Council of Shri Atal Bihari Vajpayee; Member of the Economic Advisory Council of the Chief Minister of Andhra Pradesh; and Member of the State Planning Board of Karnataka. Currently (2016-17), he is also a Member of the Chief Minister's Task Force on Agriculture, Govt of Madhya Pradesh; and has been a member of several expert Committees from time to time.

He is also a co-chair of the Task Force for G20 on “Ending Hunger and Sustainable Agriculture” (with Joachim von Broun as Chairman) (2017).

Gulati has served in both academic and policy advising capacities in India. He has 13 books to his credit on Indian and Asian Agriculture. Apart from this, he has written numerous research papers in national and International Journals. He has been a prolific writer in leading daily newspapers in India, with his current column "From Plate to Plough" in the Indian Express and the Financial Express.

He is also a Fellow of the National Academy of Agriculture Sciences, and Visiting Senior Fellow at the Centre for Development Research, University of Bonn.

For his contributions to the field, the President of India honored him with the "Padma Shri", a high civilian award, in 2015.

He graduated from Shri Ram College of Commerce and did his Masters in Economics and PhD from Delhi School of Economics.

Shri Manish Sabharwal

Shri Manish Sabharwal is currently the Chairman and co-founder of Teamlease Services, a vocational training firm implementing a university and national PPP apprenticeship program.

He earlier co-founded India Life, an HR outsourcing company that was acquired in 2002 subsequent to which he served as CEO of Hewitt Outsourcing (Asia) based in Singapore for two years.

Shri Manish Sabharwal is a member of the National Skill Mission and Central Advisory Board of Education and serves on various state and central government committees on education, employment and employability. He got his MBA from The Wharton School and is also alumni of Shriram College, Delhi and Mayo College, Ajmer.

Shri Rajiv Kumar

Shri Rajiv Kumar

Shri Rajiv Kumar assumed responsibilities of the Secretary, Department of Financial Services, Ministry of Finance, Government of India on 12th September, 2017.

Shri Rajiv Kumar has over 33 years of experience in administration and public policy in several sectors. He worked with the State Governments of Bihar, Jharkhand and Central Government in various capacities such as Deputy Commissioner of Ranchi District; Director, Industries Bihar; Director, Primary Education, Bihar; Joint Secretary, Ministry of Finance, Department of Expenditure. As Joint Secretary in Department of Expenditure, he looked after State Finances, Savings, State Barrowings and cash management, Debt relief measures, PFMS, computerization of Treasuries, Finance Commission Division, etc. As Establishment Officer cum Additional Secretary in DoPT, he was Member Secretary of the Civil Services Board (CSB); Secretary to the Appointments Committee of Cabinet (ACC) and was responsible for processing all ACC proposals relating to promotion, empanelment, placement of JS & above across all Ministries, their PSUs, attached & subordinates offices.

Shri Rajiv Kumar was Chairman of the Task Force on optimisation of Human Resources, and submitted Report for wider reforms across Ministries to achieve objective of ‘Maximum Governance, Minimum Government. He was also member of the Task force for restructuring of NITI Aayog. Shri Rajiv Kumar has degrees in B.Sc., L.L.B., PGDM, MA in Public Policy & Sustainability.

Dr. Prasanna Kumar Mohanty

Dr. Prasanna Kumar Mohanty was a Post-doctoral Fellow in Harvard University. He did MA (Economics) from Delhi School of Economics, MA (Political Economy) and PhD (Economics) from Boston University – with specialisation in Urban Public Policy and Finance. He was also a Fellow of Population Council, New York. Currently he is Chair Professor of Economics, University of Hyderabad, and honorary adviser to Centre for Good Governance (CGG) and National Institute of Urban Management (NIUM), Hyderabad.

An officer of Indian Administrative Service (1979 batch), Dr. Mohanty was the last Chief Secretary to Government of the combined State of Andhra Pradesh, a post held by him after becoming Secretary to Government of India. His other posts include: Mission Director, Jawaharlal Nehru National Urban Renewal Mission (JNNURM), Government of India; Commissioner of Visakhapatnam and Hyderabad Municipal Corporations; Vice Chairman, Hyderabad Urban Development Authority, Director General, Centre for Good Governance (CGG), Hyderabad, and District Collector and Magistrate, Guntur, Andhra Pradesh. He has been a member of several expert committees at national level, including Committee on National Training Policy, Expert Committee on Identification of BPL Households, Expert Group on Decentralised Planning, etc. His initiatives for urban forestry in Visakhapatnam and Hyderabad Municipal Corporations bagged Prime Minister’s Award twice.

Dr. Mohanty has authored "Financing Cities in India: Municipal Reforms, Fiscal Accountability and Urban Infrastructure” – Sage Publications (2016) and “Cities and Public Policy: An Urban Agenda for India" – Sage Publications (2014). He has co-edited "Urbanisation in India: Challenges, Opportunities and the Way Forward" – Sage Publications (2014). He led the seminal study: "Municipal Finance in India – An Assessment”, undertaken and published by Reserve Bank of India (2007). His current research interests include fiscal federalism, urban planning and development, infrastructure finance, good governance and public policy reforms.

Dr. Prasanna Kumar Mohanty
Shri Dilip S. Shanghvi

Dilip Shanghvi

Dilip Shanghvi, 62, is the Managing Director of Sun Pharmaceutical Industries Ltd. The company provides high-quality, affordable medicines trusted by customers and patients in over 150 countries across the world. Mr. Shanghvi is also Chairman and Managing Director of Sun Pharma Advanced Research Company Ltd.; an international pharmaceutical company engaged in research and development of drugs and delivery systems.

Over the past decade, Mr. Shanghvi has been conferred with many awards and recognitions including:

  • Padma Shri in 2016
  • AIMA-Entrepreneur of the year-2017
  • Forbes Entrepreneur for the year - 2014
  • Outstanding Business Leader of the Year - 2014, CNBC – TV18.
  • The Economic Times Business Leader of the Year, 2014.
  • AIMA (All India Management Association) - JRD TATA Corporate Leadership Award, 2014.
  • Business Standard Company of the Year, 2013.
  • The Economic Times Company of the Year, 2013.
  • NDTV Profit Business Leadership Award 2012- pharmaceuticals.
  • IBLA Outstanding Company of the year – 2012, CNBC – TV18.
  • Business India –Businessman of the year, 2011.
  • CNN IBN Indian of the Year, 2011- Business.
  • Ernst & Young Entrepreneur of the Year, India - 2010.
  • Entrepreneur of the Year - The Economic Times, 2008.
  • CEO of the Year- Business Standard, 2008.
  • First Generation Entrepreneur of the Year- CNBC – TV18 IBLA- 2007.

Mr. Shanghvi is a former President of Indian Pharmaceutical Alliance (IPA).

Shri Satish Kashinath Marathe

Shri Satish Kashinath Marathe started his Banking career in Bank of India. He was the Chairman and CEO of The United Western Bank Ltd. from 2002 to 2006 and CEO of Janakalyan Sahakari Bank Ltd. during 1991-2001. For a brief period, he was associated with the DNBS Ltd. as General Manager.

Shri Satish Marathe is the Founder Member of Sahakar Bharati an NGO in the Co-operative Sector. He is the Founder Director of Centre for Studies & Research in Co-operation, a Foundation registered under Section 8 of Indian Companies Act, 2013 for undertaking Study and Research in the Co-operative Sector.

Presently, Shri Satish Marathe is the Director of the National Cooperative Development Corporation (NCDC), Member, Executive Committee of the National Council for Co-operative Training (NCCT) and President of Pragati Pratishthan, Residential School for the dumb and mute tribal children at Jawhar in Palghar district.

Shri Satish Marathe held various positions like Hon. Secretary of Indian Banks’ Association (2001), Member of IBA’s Managing Committee and also Member of Committee of Economists, Vice President of Private Sector Banks’ Association (2005-06), Member of the High Power Committee constituted by Govt. of Maharashtra in respect of Weak and Sick Urban Co-operative Banks (2001), Director on the Board of Rajkot Nagarik Sah Bank Ltd., Expert Director on the Board of Thane Bharat Sahakari Bank Ltd, Member of Maharashtra State Co-operative Council (1995-99), Director of the Apex Bank of Urban Banks of Maharashtra & Goa Ltd , and Director of National Youth Co-operative Society Ltd.

Born on February 1, 1950, Shri Satish Marathe holds Bachelor’s Degree in Commerce and Law (Gen.) from the University of Bombay. He also holds Diploma in Journalism (Gold Medalist) from Bharatiya Vidya Bhavan.

Shri Satish Kashinath Marathe
Prof. Sachin Chaturvedi

Dr. Sachin Chaturvedi is Director General at the Research and Information System for Developing Countries (RIS), a New Delhi-based autonomous Think-Tank. He was also a Global Justice Fellow at the MacMillan Center for International Affairs at Yale University. He works on issues related to development cooperation policies and South-South cooperation. He has also worked on trade and innovation linkages with special focus on WTO. Dr. Chaturvedi has served as a Visiting Professor at the Jawaharlal Nehru University (JNU) and has also worked as consultant to the UN Food and Agriculture Organisation, World Bank, UN-ESCAP, UNESCO, OECD, the Commonwealth Secretariat, IUCN, and to the Government of India’s Department of Biotechnology and the Ministry of Environment and Forests, among other organizations. He has been a Developing Country Fellow at the University of Amsterdam (1996), Visiting Fellow at the Institute of Advanced Studies, Shimla (2003), and Visiting Scholar at the German Development Institute (2007). His experience includes working at the University of Amsterdam on a project on International Development Cooperation and Biotechnology for Developing Countries supported by the Dutch Ministry of External Affairs. He is on the Editorial Advisory Board of IDS Bulletin (UK); and is Editor of Asian Biotechnology Development Review. He has authored and edited nine books apart from publishing several research articles in various prestigious journals.
Ms. Revathy Iyer

Ms. Revathy Iyer was a former Deputy Comptroller & Auditor General - Govt. Accounts (December 2013 – May 2014). Prior to this, she was Additional Deputy Comptroller & Auditor General – Eastern States (September 2012 – December 2013) and was responsible for the CAG Audit Reports on the Accounts of the States of Andhra Pradesh, Odisha, Tamil Nadu and West Bengal and Puducherry. During October 2007 -March 2012, Ms. Iyer served as Joint Secretary in the Department of Atomic Energy, Government of India, formulating/ overseeing policy, budget and implementation of the program/activities of the Department.

Ms. Revathy Iyer joined Indian Audit & Accounts Service in 1980 and held positions such as Assistant Accountant General in Maharashtra and Delhi Accounts and Audit offices (1981-1984), Dy. Accountant General/Sr. Dy. Accountant General in the field audit and accounts offices in Delhi, Andhra Pradesh and Madhya Pradesh (1984- 1990), Dy. Secretary (Department of Personnel & Training) (1990-1994), Asst. Comptroller & Auditor General (N) (1994-1996), Principal/Chief Auditor (Central Railway–July1996-July 1998) and Northern Railway (July 1998-March 2001), Principal Director (Staff) (April 2001-March 2003), Minister (Audit) in High Commission of India (April 2003-March 2005), Principal Director of Commercial Audit & ex-Officio Member, Audit Board-II, Mumbai (April 2005-October 2007).

Ms. Iyer was the chairperson of Government Accounting Standard Advisory Board (GASAB) constituted in 2002 to formalize standards of government accounting and integrating the accounting system and procedures in different wings of the Government under the umbrella of Uniform Common Accounting Standards.

Post retirement she worked as a Director Finance & Operations in an International NGO (EngenderHealth) from September 2015 to March 2017.

Born on May 28, 1954, Ms. Iyer holds a Master’s Degree in Chemistry from University of Delhi.

Shri Swaminathan Gurumurthy


Shri Swaminathan Gurumurthy [69] is a chartered accountant and corporate and legal adviser of high standing.

Professional Expertise

Having qualified in the intermediate and final examination of the CA examination in 1972 with all India ranking in both examinations, he has been in practice for the last 42 years.

Shri Gurumurthy is a very well known adviser to many corporates on law and finance and also on macro economic issues affecting corporates. As a professional he has mediated and solved some of the most complex corporate issues.

Academic pursuits

Besides being a professional advisor, he has also been a keen academician. He has been the Visiting Professor of IIT Bombay on Indian models of Economy, Business, Finance and Management. He is presently the Distinguished Professor of Legal Anthropology in Sastra University in Tanjore.

Empirical studies

Being a keen thinker on geo political and strategic issues, he is the vice chairman of the well known strategic think tank in Delhi, the Vivekananda International Foundation.

Being an adviser to many corporates and drawn by larger national interest, Shri Gurumurthy began studying the impact of globalisation on an economy and economic and political culture habituated to command economy.

From 1993, Shri Gurumurthy and his team of volunteers that included economists, chartered accountants and social workers went to several industrial clusters which have come up on their own without state assistance or any establishment prop up including banking and educational institutions. It took them next several years of study to travel to over 40 important industrial clusters Ludhina, Batala, Amritsar, Rajkot, Surat, Baroda, Morvi in the north and west to Tirupur, Namakkal, Karur, Sivakasi and Tutukudy. The study also included the leather cluster in Agra and Kanpur dominated by Dalits. These industrial clusters which including the artisan clusters, numbering over 10000 constituted the backbone of over 50% Indian economy, 60% of manufacturing and exports.

The empirical study uncovered four aspects of the non-corporate economy about which very little was known till then. One, there is intense relation between caste and entrepreneurship. Two, this resulted in communitarian competition which led to entrepreneurship. Three, the castes mobilised and circulated capital and shared information within., Four, the property built by caste in a cluster was shared with other castes instantly as evident from several of the clusters. The study revealed that India was too complex and too vast and too diversified a country for one common policy, particularly without understanding the diversities.

Many of the findings of the study was later supported by the World Bank in its World Development Report. The study team led by Shri Gurumurthy identified relations dominated growth and development of entrepreneurship and business. The study zeroed in on social capital as the major drive of development — an idea which later found expression in the writings of Francis Fukuyama in his famous book Trust. Later many books came to be written on such and similar issues.

The study also revealed the role of the traditional family and the role of women in saving and funding family driven entrepreneurship. This persuaded Shri Gurumurthy to differ from conventional economists whose conviction in theories, he found, were more intense their ground level understanding of the Indian economy.

Journalism and activism

For the last three decades Shri Gurumurthy is highly rated as a journalist for his investigative writings. He has since then ceaselessly campaigned against corruption at high places. He has been a powerful opinion maker in India on issues national importance, particularly in the field of economics. He is now the editor of the famous and powerful socio-political weekly Thuglak in Tamil.

Media rating

Shri Gurumurthy was consistently seen by the media as the powerful from 1990 till now. The Business Baron magazine rated Shri Gurumurthy’s knowledge of economics, finance and accounts as ‘outstanding’. He was rated among 50 most powerful persons in India in 1990 [Gentleman magazine]; as the 8th most powerful [Business Baron magazine 2004]; as the 17th most powerful [India Today magazine in 2005]; as the 50th most powerful person [India Today 2015]; as the 25th most powerful person [India Today 2016] and as the 30th most powerful person [India Today 2017]

Shri Atanu Chakraborty

Shri Atanu Chakraborty, Secretary, Department of Economic Affairs, Ministry of Finance, Government of India belongs to the India Administrative Service(IAS), 1985 Batch, Gujarat Cadre. Shri Chakraborty has a Degree in Engineering from NIT Kurekshetra, Diploma in Business Finance and Masters in Business Adminsitration (MBA) (Finance), University of Hull, UK.

Shri Atanu Chakraborty has over 34 years of experience in the areas of Finance, Governance, Petroleum & Natural Gas, Industry and infrastructure including regulatory works. He has handled policy level works both at the centre and the state level. He served as Chief Executive Officer of large, board-driven, listed public sector enterprises in the area of Fertilizer, Petroleum and Petro-chemical sectors. He also carried out M&A related works.

Shri Chakraborty has a rich experience of working in Government of India as Secretary, Department of Investment & Public Asset Management (DIPAM), Joint Secretary in the Department of Expenditure and Director General in the Directorate General of Hydrocarbon, Ministry of Petroleum and Natural Gas. He also occupied senior positions in the state of Gujarat such as Principal Secretary (Department of Finance), Managing Director (Gujarat State Financial Services Ltd.), Managing Director (Gujarat State Petroleum Corporation), Principal Secretary (Industries & Mineral), Director (Employment & Training), Deputy Secretary (Finance). In the Public Sector Undertakings, he worked as CEO in Gujarat Infrastructure Development Board, MD in Gujarat Water Infrastructure Limited, MD in Gujarat State Fertilizers & Chemicals and MD in Gujarat State Alkalis & Chemicals Limited in Gujarat.