Usha Thorat is a former Deputy Governor of the Reserve Bank of India (November 10, 2005 to November 09, 2010). She was a Director at RBI where she also served as Chairperson of the Bharatiya Reserve Bank Note Mudran Private Limited. Usha Thorat has been Chairperson of the Deposit Insurance and Credit Guarantee Corporation and a Director of the National Bank for Agriculture and Rural Development, both between 2005 and 2009. She was an Independent Director of Mangalore Refinery and Petrochemicals Limited and an Additional Director at the Oil and Natural Gas Corp. Ltd. till 2012. She serves as Member of the Board of Governors at the Foundation for Ecological Security and has been an Independent Director of Sanofi India Limited since April 30, 2016. Her important positions include being Director of the Centre for Advanced Financial Research and Learning (CAFRAL) and Member on the Board of Securities Exchange Board of India (SEBI). Usha Thorat has a Masters Degree in Economics from the Delhi School of Economics.