Dr. Rakesh Mohan is the Professor in the Practice of International Economics of Finance, School of Management, and Senior Fellow, Jackson Institute of Global Affairs, Yale University from July 2010. He teaches every Fall Semester there. He is also Non Resident Senior Research Fellow of Stanford Centre for International Development, Stanford University Stanford.

He is Chairman, National Transport Development Policy Committee, Government of India, in the rank of Minister of State. In addition, he is Vice-Chairman, Indian Institute of Human Settlements; and Global Adviser, McKinsey and Company. During June 15, 2009 to December 15, 2009, he was Distinguished Consulting Professor at Stanford Centre for International Development at Stanford University.

Prior to this, he was Deputy Governor of the Reserve Bank of India (September 9, 2002 to October 31, 2004 and July 2, 2005 to June 10, 2009). Earlier, in September 2002, he was appointed as the Deputy Governor of the Reserve Bank for a period of three years. He relinquished that post in October 2004 when he was appointed as Secretary, Department of Economic Affairs, Ministry of Finance, Government of India.