RBI Governor and Deputy Governors
Raghuram Govinda Rajan
He is the current and the 23rd Governor of the Reserve Bank of India (RBI). He will took over from D. Subbarao, on September 4, 2013. Prior to his appointment as RBI Governor, Rajan was Chief Economic Advisor (CEA) to Ministry of Finance, Government of India.
Rajan was the chief economist at IMF (International Monetary Fund) from October 2003 to December 2006. Rajan is at present on leave of absence as a professor of finance at the graduate business school at the University of Chicago.
Raghuram Rajan was born in Bhopal in India. He completed his Bachelors degree in electrical engineering from IIT Delhi, PGDM from IIM-Ahmedabad and Phd from MIT (USA) for his theisis "Essays on Banking".
In 2005, Rajan In his paper, "Has Financial Development Made the World Riskier?", Rajan predicted the financial crisis of 2008 in advance. His paper argued that financial managers were taking "Tail risks" i.e. those risks which generate serious results with small probability, but in return offered ample compensation the rest of the time. Thus, Rajan is credited to have predicted the 2008 financial crisis in advance in his research paper.
H.R. Khan: Deputy Governor
The Reserve Bank of India (RBI) appointed HR Khan as a new deputy governor, in July 2011, for a period of three years.
Khan is in charge of the Department of External Investments and Operations, Foreign Exchange Department, Internal Debt Management Department and Inspection Department and some others.
Dr. K C Chakrabarty: Deputy GovernorDr. Kamalesh Chandra Chakrabarty took over the charge as Deputy
Governor of the Reserve Bank of India in June 2009. He oversees Customer Service Department, Department of Administration and Personnel Management, Department of Information Technology, Department of Payment and Settlement Systems, Human Resources Development Department, Rajbhasha Department, Rural Planning & Credit Department, Urban Banks Department. He held the posts of Chairman and Managing Director of Indian Bank and Punjab National Bank and Chairman, Indian Banks' Association before taking charge as Deputy Governor in the Reserve Bank of India.
Anand Sinha : Deputy Governor
Reserve Bank of India's 4th Deputy Governor Anand Sinha was appointed in January 2011.
He was an executive director of the Reserve Bank of India (RBI). Its worth note that a deputy governor in RBI can be appointed for a maximum of five years or till the age of 62, whichever is earlier. Mr. Sinha holds a Masters' degree in Physics from the Indian Institute of Technology, New Delhi. He had joined the central bank in 1976. He has been elevated to the post after retirement of Usha Thorat in November 2010.
Urjit Patel: Deputy Governor
Urjit Patel succeeded Subir Gokarn to become new deputy governor at the RBI.
He is a PhD in economics from the Yale University and a non-resident senior fellow at the Brookings Institution, a US-based think-tank. He will have a 2-year term at the regulator.
Note: RBI has four deputy governors, of which, by convention, two are promoted from within the ranks, one is an economist and the other one a commercial banker.