New Delhi, Jun 5: Economist Neelkanth Mishra has been appointed as Executive Director at the World Bank headquarters in Washington DC for a tenure of three years, according to an order issued by the Personnel Ministry on Thursday.

Mishra will succeed former bureaucrat Parameswaran Iyer, who has been serving in the role since February 2023.

Cabinet Approves Appointment
The Appointments Committee of the Cabinet (ACC) approved Mishra’s appointment as Executive Director, World Bank Headquarters, Washington DC, USA.

According to the official order, he will serve a three-year term from the date he assumes charge of the post.

The ACC has also approved an extension of Iyer’s tenure beyond June 19, 2026, until Mishra formally takes over the position.

Key Role In Economic Policymaking
Mishra currently serves as a part-time member of the Economic Advisory Council to the Prime Minister (EAC-PM), an independent body that provides advice to the Centre on economic and related policy matters.

He has been associated with several key institutions and policy bodies in recent years.

Academic And Professional Background
A gold medallist from the Indian Institute of Technology (IIT) Kanpur, Mishra is widely known for his work in economics, financial markets and investment strategy.

According to his official profile, he serves as Managing Director and Co-Head of Equity Strategy, Asia Pacific, and India Strategist at Credit Suisse.

Over the years, he has been recognised for his analyses on the Indian economy, financial markets and macroeconomic trends.

Holds Key Regulatory Positions
Apart from his role on the Economic Advisory Council, Mishra is currently the part-time Chairperson of the Unique Identification Authority of India (UIDAI).

He also serves as a part-time member of the Telecom Regulatory Authority of India (TRAI).

His appointment to the World Bank is being viewed as a significant addition of economic and policy expertise to India's representation at the multilateral financial institution.

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Parameswaran Iyer To Continue Till Transition
Parameswaran Iyer, a retired 1981-batch Indian Administrative Service (IAS) officer of the Uttar Pradesh cadre, has held the position of Executive Director at the World Bank since February 2023.

The government has extended his tenure temporarily to ensure a smooth transition until Mishra assumes charge in Washington DC.