Biz-RBI NEWS!

RAGHURAM RAJAN : NEXT RESERVE BANK OF INDIA(RBI) GOVERNOR

Chief Economic Advisor Raghuram Rajan is set to grab
the top post as the Governor of the Reserve Bank of India for the next three years.
Rajan will succeed the current RBI Governor Duvvuri Subbarao
whose term ends on September 4. The Finance Ministry
announced his appointment on
Tuesday.
"The Prime Minister has approved the appointment of Dr
Raghuram Rajan as the Governor of Reserve Bank of India (RBI) for a term of three years," a
statement issued by the Finance Ministry said.
Last year, Rajan was appointed as the Chief Economic Advisor to
the Ministry of Finance,Government of India. He has
formerly worked as the chief economist at the International
Monetary Fund.
Rajan has been a gold medalist in IIT-Delhi and IIM-Ahmedabad.
He takes over as the RBI chief at a time when the Indian currency has fallen over 12 per cent since
January this year.
The immediate challenges before
Rajan would be to stabilise the rupee volatility, changing interest rate scenario amid weaker GDP
growth, high inflation levels and high vulnerabilities of the
external environment.