Raghuram Govind Rajan, chief economic advisor in the Finance Ministry,
is scheduled to take over as governor of the Reserve Bank of India on
Wednesday.
At 50, Mr. Rajan will be among the youngest to occupy the high office at
Mint Street in Mumbai, where he takes over from incumbent Duvvuri Subbarao
Personal Details
- Dr.Raghuram Govind Rajan, born in 1963 in Bhopal, went on to complete his doctorate from the Massachusetts Institute of Technology and was professor at the University of Chicago’s Booth School of Business before taking over as CEA
- known throughout the world for his forthright and frank views. Widely acclaimed — though initially criticized — for accurately predicting the global meltdown of 2008, Dr. Rajan had foreseen as early as in 2005 that a crisis in the financial sector was looming large.
- An alumnus of the Indian Institute of Technology (IIT) in New Delhi, the Indian Institute of Management (IIM) at Ahmedabad and the Massachusetts Institute of Technology, and a gold-medallist all through, Mr. Rajan was the youngest economic-counsellor and chief economist at the IMF from October 2003 to December 2006
- joined the Finance Ministry in August 2012, brings with him wide experience as a banker, academician and technocrat, having served institutions such as the International Monetary Fund and taught at the University of Chicago
- Prime Minister Manmohan Singh had approved his appointment as the Governor of the RBI on August 6, 2013 for a term of 3 years to succeed incumbent D Subbarao
Note
Raghuram Rajan,New RBI Governor Starts With a Bang
In a 7-page statement read out at a press conference after markets closed, Dr.Rajan set out a bold, reformist vision for his tenure at the RBI
Declaring that he would “preserve the value of the currency”, Dr. Rajan said India is a fundamentally sound economy with a bright future. “Our task today is to build a bridge to the future, over the stormy waves produced by global financial markets.”
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