Raghuram Rajan appointed as the next RBI Governor
Raghuram Govind Rajan (50), who is currently the Chief Economic Adviser to the Govt. of India, has been appointed as Governor of the Reserve Bank of India (RBI) for 3 years. He will take over from D. Subbarao who demits office on September 4, 2013. The appointment was approved by Prime Minister Manmohan Singh.
Dr. Rajan, who is credited to have correctly predicted the 2008 financial crisis, is set to take over the helm of the central bank at a time when the economy is grappling with a multi-pronged crisis of high consumer price inflation, industrial slowdown, sharp depreciation of the rupee and a widening current account deficit.