Top Ad unit 728 × 90

Recent

recent

Mr. Raghuram Rajan -- next Governor of RBI

NEW DELHI: 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 adviser 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.

Known for his frank views, Rajan was acclaimed for predicting the 2008 global financial crisis. In 2005, Rajan had delivered a lecture severely critical of the financial sector and argued that a financial disaster might be looming.

Rajan, who was honorary economic adviser to the Prime Minister earlier, is an alumni of IIM-Ahmedabad and IIT-Delhi. He had replaced Kaushik Basu as chief economic adviser in the finance ministry last year.

He 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.

His appointment was generally welcomed by economic administrators and the industry.

"Rajan will make an excellent governor at the moment" as he has been dealing with the problems in the last one year, said C Rangarajan, chairman of the Prime Minister's Economic Advisory Council (PMEAC) and a former RBI governor.

Planning Commission deputy chairman Montek Singh Ahluwalia said Rajan was coming in at a tough time but he has a terrific academic and professional background.

"It's a very tough time, we need someone who can give direction. The important thing is giving leadership for the next five years on how should the Indian financial system move. I think Rajan will be the best person to do that," he said.

Adi Godrej, industrialist and former CII president, welcomed Rajan's appointment, saying his experience globally and as CEA in the government would stand him in good stead. 
 
 
source: 
 
 
 http://timesofindia.indiatimes.com/business/india-business/Raghuram-Rajan-appointed-RBI-governor/articleshow/21649099.cms?intenttarget=no
Mr. Raghuram Rajan -- next Governor of RBI Reviewed by sambasivan srinivasan on 5:59:00 AM Rating: 5

No comments:

All Rights Reserved by Bank Exams © 2009
Technology PartnerNiralcube

Contact Form

Name

Email *

Message *

Powered by Blogger.