Raghuram Rajan appointed next Reserve Bank of India Governor - The New Indian Express

Raghuram Rajan appointed next Reserve Bank of India Governor

Published: 06th August 2013 04:01 PM

Last Updated: 06th August 2013 07:23 PM

Chief Economic Advisor Raghuram G Rajan has been appointed as the next Governor of the Reserve Bank of India (RBI).

Rajan will replace D Subbarao, who completes his five-year term on September 4, and will be the 23rd Governor of the central bank.

"Prime Minister Manmohan Singh has approved appointment of Raghuram Rajan as Governor of RBI for a term of three years," an official statement said.

Rajan, a former IMF chief economist, was appointed as the Chief Economic Advisor in the Finance Ministry in August last year.

As the new RBI chief, Rajan will have a challenging time as he will have to battle the declining rupee, sliding growth and rising retail inflation, amid global economic uncertainty.

Known for his frank views, Rajan was also honorary economic advisor to the Prime Minister. He was acclaimed for predicting the 2008 global financial crisis.

An alumni of IIM-Ahmedabad and IIT-Delhi, Rajan did his doctorate from the Massachusetts Institute of Technology. He was professor at the University of Chicago's Booth School of Business before taking over as CEA.

Rajan was also involved with the report on Financial Sector Reforms, which was authorised by the Planning Commission.

comments powered by Disqus

Disclaimer: We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the NIE editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.


Read More



follow us Mobile Site iPad News Hunt Android RSS Tumblr Linekin Pinterest Youtube Google Plus Twitter Facebook