Ramesh Bhat

Vice-Chancellor, NMIMS, Provost - Management Education, NMIMS

Dr. Ramesh Bhat took over as the Dean of the School of Business Management (SBM), NMIMS in December 2017. He has more than four decades of teaching, research, consulting, and administrative experience. Dr. Bhat's research and teaching interests include areas of corporate finance, health finance and policy, and private equity.

Before joining NMIMS, Dr. Bhat served as Professor at IIM, Ahmedabad, from 1986 to 2008 and 2014 to 2016, where he held various positions including Area and Management Development Programs chairperson. From 2009 and 2014, he served as Executive Chairman of WOne Management Systems, a co-founded company. Dr. Bhat has served on adjunct and visiting faculty positions at ISB Hyderabad, the University of North Carolina at Chapel-Hill (India Programme), IIM Udaipur, IMI New Delhi, and worked at the Institute of Chartered Accountants of India, and Shri Ram College of Commerce. Dr. Bhat served as an Advisor to the Ministry of Human Resource Development and has been a member of various committees of the Ministry of Health and Family Welfare and Planning Commission. He has worked on multiple long-term consulting assignments with the Abt Associates India, DFID New Delhi, Royal Netherlands Embassy India, and various short-term consulting projects with the USAID New Delhi, CDC India, ADB, European Commission, and the WHO.

In addition to his academic responsibilities, Dr. Bhat is currently a board member of Basic Healthcare, a non-profit organization dedicated to improving the health of the last-mile population in rural areas. He has served as an independent director at National Small Industries Corporation, BEML, ITI, Corporation Bank, Ahmedabad Stock Exchange, and various other companies.

Dr. Bhat holds a Ph.D. and Master's degree in Finance from Delhi School of Economics, University of Delhi, and a Bachelor's degree in Accounting and Finance from Hans Raj College, University of Delhi. He is also a research fellow in international health from Harvard TH Chan School of Public Health, Harvard University, Boston. He has served as a member of the editorial boards for the Health Policy and Planning, Journal of Insurance and Risk Management, Journal of Health and Population in Developing Countries, and Journal of Health Management. The fourth edition of his book, A Casebook in Financial Management, co-authored with Prof IM Pandey, is published by McGraw Hill Education. His research publications can be accessed on GoogleScholar (Citations 1935, h-index 22, i10-index 34 as on 1st October 2020).

Scopus: Citations 309 of 19 papers published in the Scopus database

Research Gate: Citations 879, Research Papers/Reports 128, Reads 12908

Academic and Professional Qualification

  • Takemi Fellow in International Health 1990-91
  • Harvard TH Chan School of Public Health, Harvard University, Boston, USA
  • Doctor of Philosophy (Ph. D.) 1988
  • Delhi School of Economics, University of Delhi
  • Master of Philosophy (M. Phil.) 1984
  • Delhi School of Economics, University of Delhi (Grade "A" major in Finance)
  • Master of Commerce (M. Com.) 1979
  • Delhi School of Economics, University of Delhi, Delhi (Grade "A" major in Finance)


  • Management Accounting and Control (Financial Accounting)
  • Finance I (working capital finance and financial markets)
  • Finance II (corporate finance and investment decisions)
  • Venturing in Health Care
  • Health Insurance
  • Private Equity and Venture Finance
  • Strategic Financial Management
  • Life and Health Insurance
  • Investment and Portfolio Management


Member of Editorial Board

  • Health Policy and Planning (1999-2003)
  • Journal of Insurance and Risk Management
  • Journal of Health and Population in Developing Countries and
  • Journal of Health Management

Teaching and pedagogical Innovations


  • Health Financing Advisor, Full-time Consulting Position, Abt Associates Private Ltd (July 2016 – August 2017)
  • Executive Chairman and Co-Founder, WOne Management Systems Pvt Ltd. A Management Consulting Firm (2009 – 2014) Dean, School of Business Management, NMIMS University, Mumbai (April 2008 – March 2009)
  • Professor (1993 - 2009), Associate Professor (1989-93); Assistant Professor (1986-89), Indian Institute of Management, Ahmedabad (1986 – 2009)
  • Full-time Advisor – Strategies to Strengthen Health Sector in Gujarat (2002-03), Royal Netherlands Embassy Development Cooperation Office, New Delhi
  • Adjunct Professor, School of Public Health (1995 - 1999), University of North Carolina at Chapel Hill, USA (IIHMR Jaipur, India Programme)
  • Health Sector Group, Department for International Development (DFID), India,
  • Full-time Advisor, Health Policy and Management (1997– 1999)
  • Assistant Director, The Institute of Chartered Accountants of India, New Delhi: 1985-86
  • Faculty Member, Shri Ram College of Commerce, and Ramjas College, University of Delhi, Delhi: 1979-1985

Research Interest:

  • Corporate Finance
  • Health Finance and Policy
  • Private Equity Finance Venturing in Health Care

Recent Publications

  • Ramesh Bhat, I M Pandey, Samveg Patel, (2021-22), Dividend Behaviour of Indian Companies : Post Macroeconomic Shock, Economic & Political Weekly, Sameeksha Trust, Vol. 56, Issue. 35, 28 Aug 2021, ISSN: 0012-9976, 2349-8846, ABDC "B", Scopus, UGC, https://www.epw.in/journal/2021/35/special-articles/dividend-behaviour-indian-companies-post.html?0=ip_login_no_cache%3D44131431750758f82233d7098e070f64
  • Ramesh Bhat, Prof. Papiya De, Amit Shrivastava, (2021-22), Art Jewel: No Treasure for Posh Ventures, The Journal of Wealth Management, Institutional Investor, Inc., Spring 2022, 24 (4) 109-127, ISSN 1534-7524, ABDC "B", Scopus https://doi.org/10.3905/jwm.2021.1.159
  • Ramesh Bhat, Samveg Patel, (2021-22), Trade Credit and Bank Credit: Impact of Macroeconomic Policy Interventions, Economic & Political Weekly, Sameeksha Trust, Vol. 57, Issue No. 31, ISSN: 0012-9976, 2349-8846, ABDC "B", Scopus, UGC https://www.epw.in/journal/2022/31/special-articles/trade-credit-and-bank-credit.html
  • Sunil Kumar Maheshwari, Ramesh Bhat, (2018-19), Functioning of Boards in PSBs in India, The Indian Journal of Industrial Relations, Shri Ram Centre for Industrial Relations and Human Resources, Vol 54, Issue 1, pp 193-198, 0019-5286, ABDC "C", UGC http://hdl.handle.net/11718/23155
  • Bhat Ramesh, Holtz Jeanna, Avila Carlos, (2018-19), Reaching the Missing Middle: Ensuring Health Coverage for India's Urban Poor, The Journal of Health Systems and Reforms, Taylor & Francis Online, Landes Biosciences, Vol 4, Issue 2, pp 125-135, 7th March 2018, (P) 2328-8604, (O) 2328-8620 https://doi.org/10.1080/23288604.2018.1445425
  • Arni S. R. Srinicasa Rao, Sreven Krantz, Kurien Thomas, Ramesh Bhat, Sudhakar Kurapati, (2019-20), Model-Based Retrospective Estimates for COVID-19 or Coronavirus in India: Continued Efforts Required to Contain the Virus Spread, Current Science, Indian Academy of Sciences, Vol. 118, Issue 7, pp/ 1023-1025, 0011-3891, Scopus, Web Of Science https://www.researchgate.net/publication/340172727_Model- Based_Retrospective_Estimates_for_COVID-19_or_Coronavirus_in_India_Continued_Efforts_Required_to_Contain_the_Virus_Spread
  • Thomas Kurien, Ramesh Bhat, Sudhakar Kurapati, Arni S. R. Srinivasa Rao, (2019-20) Addressing Immediate Challenges in Controlling COVID-19 in India, Research Gate.net/publication https://www.researchgate.net/publication/340443452_Addressing_Immediate_Challenges_in_Controlling_COVID-19_in_India
  • Thomas Kurien, Ramesh Bhat, Sudhakar Kurapati, Arni S. R. Srinivasa Rao, (2019-20), COVID19 Surveillance: Post Lockdown Strategies and Options, Research Gate.net/publication https://www.researchgate.net/publication/340996590_COVID19_Surveillance_Post_Lockdown_Strategies_and_Options
  • Ramesh Bhat, Sunil Maheshwari, (2019-20), Learning to Live in the Social Distancing World: A Behavioural Perspective, Research Gate.net/publication https://www.researchgate.net/publication/340996835_Learning_to_Live_in_the_Social_Distancing_World_A_Behavioural_Perspective
  • Arni S.R. Srinivasa Rao, Steven G. Krantz, Michael B. Bonsall, Thomas Kurien, Siddappa N. Byrareddy, David A. Swanson, Ramesh Bhat, Kurapati Sudhakar, (2021-22), How Relevant is the Basic Reproductive Number Computed During COVID-19, Especially During Lockdowns? Infection Control and Hospital Epidemiology, Cambridge University Press, Vol. 43, Issue 1, pp.125-127, 0899-823X, 1559-6834, Scopus, Web of Science, 1017/ice.2020.1376
  • Ramesh Bhat, Kurapati Sudhakar, Thomas Kurien, Arni S R Srinivasa Rao, (2022-23), Strengthening India’s response to HIV/AIDS epidemic through strategic planning, innovative financing and mathematical modelling: key achievements over the last three decades, Journal of the Indian Institute of Science, Springer, Published Online: 07th Septermber 2022, ISSN: 0970-4140, 0019-4964, Scopus, Web Of Science
  • Bhat, Ramesh (2017) Navigating Health Financing and Insurance Options for Urban Poor in India. Bethesda, MD: Health Finance & Governance Project, Abt Associates Inc. August 2017.
  • Ramesh Bhat and Denny John (2017). Price-cap is after all just a new price: the case of cardiac stents in India. ORF Issue Brief, Issue Number 175, April 2017.
  • Ramesh Bhat (2017) National Health Policy 2017: Through the Accountability Lens. Indian Institute of Management Udaipur Research Paper Series (accepted for publication in Economic and Political Weekly)
  • Denny Johna, Prabir Chatterjee, Shruti Murthy, Ramesh Bhat, Baba Mayaki Musae (2017) Cost effectiveness of home-based care model for managing MDR-TB in India. Accepted for publication in Indian Journal of Tuberculosis, Elsevier's online submission system, EVISE®
  • Ramesh Bhat and Sudhakar, K (2017). Donor Funding to Domestic Budgetary Support Transition of National AIDS Control Programme (NACP) in India (2017). Indian Institute of Management Udaipur Research Paper Series No. 2012-2171274.
  • Ramesh Bhat, Lysander Menezes and Carlos Avila (2017) Community/Mutual Health Insurance Programme: A Case Study of Annapurna Pariwar, Maharashtra. Bethesda, MD: Health Finance & Governance Project, Abt Associates Inc. August 2017.
  • Ramesh Bhat, Lysander Menezes and Carlos Avila (2017) Review of Community/Mutual Based Health Insurance and their Role in Strengthening the Financial Protection System in India. Bethesda, MD: Health Finance & Governance Project, Abt Associates Inc. August 2017.
  • Kriti Khurana, Ramesh Bhat, Rikin Gandhi and Peggy Koniz-Booher (2015) Cost analysis of nutrition messaging intervention through community-led videos in Odisha. Seventh International Conference on Information and Communication Technologies and Development (ICTD 2015) hosted at the Nanyang Technological University in Singapore, May 15-18, 2015.
  • Arni S. R. Srinivasa Rao, Kurien Thomas, Sudhakar Kurapati, Ramesh Bhat (2012) Improvement in survival of people living with HIV/AIDS and requirement for 1st- and 2nd-line ART, Notices American Mathematical Society 59.

Books Published

Pandey I M and Bhat Ramesh (2012). Cases in Financial Management (3/ed) McGraw Hill

Education India. Instructor's Manual to Cases in Financial Management, McGraw Hill Education India (co-authored with I.M. Pandey).


Takemi Fellow in International Health

Consulting and Research Report

  • South-to-South HIV/AIDS Resource Exchange Project, USAID 2014-15
  • Financial Planning for NACP IV, Report submitted to the Department of AIDS Control, Ministry of Health and Family Welfare, Government of India, New Delhi, September 2013.
  • Comparative Analysis of Different Interventions to Improve Safe Injection Practices, Report submitted to the NRHM, Department of Health and Family Welfare, Government of Kerala, May 2013.
  • Human Resource Management Practices, Institutional Environment and Performance in India’s Public Health Sector, Report submitted to the World Bank and Centre for Good Governance, February 2013 (co-authored with Sunil Maheshwari)
  • Mental Health Budget Analysis, Report submitted to the Centre for Advocacy in Mental Health (CAMH), Pune, and Centre for Budget and Governance Accountability (CBGA), Delhi, 2012.
  • Study of Institutional Structure, Processes and Culture for Attracting and Retaining Professionals and Performance Excellence, Report submitted to U. N. Mehta Institute of Cardiology and Research Centre, Ahmedabad, 2013.
  • Study on Vaccine Wastage Impact, Report submitted to Becton Dickinson, April 2012.
  • Cost Effectiveness of Voucher Scheme for Reproductive Healthcare in Uttarakhand, Report submitted to Futures Group International India and USAID, April 2012.
  • Strengthening the Health Department of Provincial Government of South Africa, Report submitted to Government of Free State, South Africa, May 2012.

Honors and Awards

  • Chairman of the session on Development of National Strategic Plan Towards Ending the TB in India 2017-2023
  • Chairman Conference on Risk Management and Corporate Insurance organized by Confederation of India Industries (CII), Gujarat, 8 September 2007
  • Guest Editor - Special Issue on Health Care Financing, The Journal of Health Management, Indian Institute of Health Management and Research, Jaipur, India.
  • Temporary Advisor to World Health Organisation on several occasions
  • Actively involved in developing the health financing options in Gujarat. Explored options of insurance and voucher schemes. Extensive background work done for the ongoing Chiranjeevi Yojana in Gujarat
  • Lead Member of Mental Health Mission, Government of Gujarat. The Mission prepared a strategic document for mental health sector development in Gujarat and was involved in formulating the Mental Healthcare Policy
  • Advisor to the Task Force constituted by the Department of Health and Family Welfare, Government of West Bengal
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