[1][2] He was Chief Economic Advisor, Federation of Indian Chambers of Commerce and Industry (FICCI) and was an independent Director on a few companies’ Boards.

The areas supervised by him were monetary policy, economic research, statistics, financial stability, enforcement of banking regulation, risk management and internal audit & inspection.

One other big suggestion he made is that the government's surplus cash deposited with the RBI should be auctioned so that there is no lead and lag in liquidity.

[7] Mohanty edited and contributed to two books of research papers titled Regional Economy of India: Growth and Finance.

[11] He delivered the prestigious Prof. Baidyanath Misra Endowment Lecture of the Orissa Economics Association, in 2010.